OMG! Some you folks are just too funny. If someone doesn't say IDCC is going straight to the moon, you freak out! All I said, was that we would likely encounter some real resistance in the $80-$82 area (which has already proved itself out the last couple of trading sessions).
I have been an IDCC bull longer than the vast majority of you here (bought my first long position at $5 unadjusted). Through all the ups and downs, I have always maintained a core holding position. I have also maintained a trading position which I have used to by and sell IDCC numerous times. I still think that IDCC has a ways to go to the upside ... my current long term target is just above the $140 range. But, some of you have replied to me as if I was coming on here saying you should short IDCC, or sell your entire holding. That was never my position, nor my intent. Rather than make a half dozen separate replies, let me just respond to a few quotes:
"When IDC hit 82 it had a marketcap of 3.6B.
When it hits 82 this time it will have a market cap of 2.8B due to the buyback program.
Resistance should occur based on market caps not stock price."
Lots of things SHOULD happen. But, don't try to rewrite the rules of the stock market, much less write your own rules. Technical resistance occurs based on chart patterns and historical stock prices ... PERIOD. BTW, Market Cap is a fundamental measurement, not a technical one. When you ignore the rules is when you are likely to get hurt.
"One investor proves your case? Kinda funny, no?"
Yes, it does prove my case. I said there are undoubtedly some people who have held from those runs to the $80 area. True, Israt was the only one on this board with the cojones to admit it. However, I personally know of at least half a dozen others who don't frequent this board who have done the same. Considering the thousands of IDCC shareholders out there, I am certain that there are plenty of others.
"Technicians don't dictate the whole story. IDCC is on a whole 'nuther level these days."
The words of someone who has drank the Kool-Aid. I agree technicians don't "dictate the whole story" ... nothing ever does. But, IDCC is just another stock in the investing universe. It still is subject to many of the same principles of it's peers (ie. the battle between shorts and longs, EPS expectations, money flow, etc.). To think that IDCC, or any other stock for that matter, is above the fray and marches to it's own market beat is just setting yourself up for failure. Never fall in love with a stock. Only fall in love with the profits it brings you! That said, a large part of any stock's story is driven by technicals ... vast numbers of folks trade based on it. So, they will have (and already have had) an effect on the stock.
I'm sure there were many shareholders who soiled their shorts this morning when the stock dropped to the $75 area. Me???? I celebrated by picking up a few hundred shares in my trading account, and took a quick $2.23/share profit this afternoon. I'm hoping for a nice $75-$80 trading range for several weeks for two reasons. One, it will provide a great trading opportunity. And, two, it will provide a solid base from which the stock WILL make it's next assent to new all-time highs.
So, let me be perfectly clear. I am (and have been for years) a long term super bull on IDCC. Short term, I am a bit more cautious SOLEY BASED ON THE TECHNICALS. I like steady climbs in stocks. Parabolic moves are almost never sustainable. This pause to refresh should be welcomed and not feared or vilified by all long term bulls. All IMNSHO, of course.
