Wade: In the distant past, CPQ never held the top of its spike on a day like this and would retrace, even during the day as much as 50% of its spike (sometimes, if you were quick, you could sell, buy and sell all in one day).
What's throwing me off now is this one day gap between the earnings and the analysts meeting, followed by a weekend.
I'm certain the analysts meeting will be positive and there will be no downgrades and some upgades next week, as well as all the reitirations. CPQ will be guiding analysts down, to lower the bar for next quarter, but analysts will be revising estimates upwards. They will be struggling with current valuations.
But I'm not sure that the overall market will remain bouyant over the weekend. So all I can say is I am on high alert. If it spiked to $55+ today I would sell for a quick trade, and accumulate more CPQ at a lower price. But I might change my mind! |
