I think the bright side to today was the bounce off the low 20's again. Does that qualify as a double bottom? Technically, yes, but practically... let's wait for a triple bottom when the NAZ drops through the floor, then we will be able to tell what type of legs Q really has.
In regards to the buyback, yeah Brown really flubbed that one in an otherwise solid to good conference call. He should have said, "Yes that is one of the options that we are considering and we will probably reach a decision on that soon." " We think that investing in our own shares right now is a great investment in light of our prospects for 1999." Instead of "yeah we wouldn't rule that out, but at this point we have no plans to."
Translation: "Everyone knows that we have all this cash on hand, but we don't believe enough in our company or our MGT skills to have a banner year and surely reach a new all time high, so at this point we feel like we're not worth it.
"THANKS MIKE!! LET ME CALL MY BROKER AND HELP YOU LOSE 9 POINTS IN 2 WEEKS GIVEN THAT GLOWING RECOMMENDATION!!
I remember when the spread between SEG & QNTM was 7 points... now 15. I guess that's what happens when one company blows the earnings away, and the other hurdles them by mainly cutting costs
.Finally, if the vote to let Clinton off the hook and put this to rest, you will see an explosion to the upside. 300-500 points in 3 days
.PS --
Every day above ground is a good day, Tony (Scarface)
Every day above 20 is a good day, thread (Scarred Portfolio)
Steve O'Hara
AA |
