To: Boplicity who wrote (64272 ) 1/25/2000 10:30:00 PM From: jmanvegas Read Replies (5) | Respond to
Greg: Most of the analysts have never fully understood QCOM. That being said, because this was not a stellar earnings by definition of what the Street considers stellar, we are going down. I previously mentioned several times that QCOM must kill the numbers in order to stay at these levels and justify its valuation. They did not - just the way it is. Other CDMA providers like VOXX, for example, killed the Street. QCOM did not. Is QCOM worth $100B in valuation now - that's what the Street has to digest and think about. Will QCOM be worth $100B or more in the future - we all know the answer to that. The question is when. The CC was informative and exciting for the future - so for LTB&H investors, everything will be okay and work out. However, the CC didn't feel enthusiastic. I say we will see the 120's real soon and maybe lower as the momo players exit and the shorts enter in here. That being said, any bounce from those levels will be met with tremendous resistance just like the recent resistance we all saw at the 160 level. We need actual news and developments that can be asserted by management in order to move this stock forward, not well this is going to happen and that is going to happen. China is not a done deal yet. And I will venture to say that due to the presidential campaign this year, China entering the WTO anytime this year will NOT happen. As far as HDR and future 3G developments, it'll happen later this year but we all know that - it's no surprise. We don't know how big or the actual numbers behind it, so as far as the Street is concerned - it's now show me the money time. And let's not forget the Fed. They are raising rates, not one time, probably several times. For those of you who want to go in and buy tomorrow, you'll be okay long-term. But I sure as hell will not. I'll wait to after the Fed's meeting next week. We're going to see huge volumes tomorrow on QCOM IMO. I hope I'm wrong and that all the sellers will be gone by tomorrow or the next day. I have a feeling that is not the case. We have a lot of overhead resistance right now and probably a big gap down which is going to look real ugly on the charts. The bottom line - QCOM is dead money for awhile and the Wall Street houses will extract their pound of flesh. It had its tremendous run last year. It is congestion and consolidation time at lower levels until some great fundamental news comes out that we can sink our teeth into - not well Europe may be happening or we're still negotiating with China. Something tangible. It's still early here in Vegas - time to sit down and take one long drink. Good luck all - we'll need it over the next several weeks/months.
