Like most of you, I'm really disappointed in the reaction to QNTM's earnings. Like I wrote a day before earnings came out, I thought that QNTM would have to solidly beat the estimates by at least a nickel to avoid the sell-off. I guess I was under estimating the expectations. WDC got creamed the day after they released, but they wre closing a plant and laying off people. AMD got crushed by missing their number, although posting a pretty good profit over the last qtr.
The reaction to QNTM is really puzzling? All the way down to 23.5 from 29 15/16. Hey even CBS MArket Watch said the night that earnings were released that QUOTE " Shares of QNTM will likely rise tomorrow after ecxeeding expectations, and Soundview came in before the bell with an upgrade." And I heard the BS either on this sight or Yahoo,
"who is Soundview." Anybody who's been around the market knows who the hell soundview is.
I agree with the poster, I think it was Stitch, who said that we probably will be in a range between 24-29 for the next month or so. I was thinking the day after the CC that we will probably be back to 27 to 29 in 3 to 4 weeks. I think that one of the things that you have to watch out for is the short termers who jumped on our bandwagon after SEG phenonmenal earnings report and the high call rate going on in the options market. I mean, no one really thought that the MM were gonna give away that kind of profit to the options players when everyone was banking on a great to spectacular qtr?
Anyway, I for one was impressed by the sector as a whole. I think that QNTM did real well this qtr and the conference call painted a very rosey scenario for this next qtr. 14 points behind SEG, nah! I think will close that gap to about 10 in a couple of weeks.
Anyone know anyother good stock BB sights other than SI or Yahoo?
Thanks in advance.
This week could have been so great to, oh well.
Better days,
Steve O'Hara |
