QCOM versus CELL CELL was 89% of its 52 week high when it had is great report and its going to open at its 52 week or possibly 2 to 3% above. QCOM is now trading at 2% above the 52 week high, there is plenty of time before the report next wednesday to eke out a nice profit both long and short. We have the November 47.50 calls for a number of weeks now, and we sure as heck are gonna take those profits well in advance of the report! Through the report those that hold the actual stock and are accumulating shares remember those that came before and we had straddles or the short/put (i.e CCMP, IBM, MSFT, AMZN, EBAY, KLAC, MERQ and the list gets longer) IBM and MSFT have never recovered. SLAB was an exception and we had that as well but AFTER THE REPORT.
All of the stocks that are at all time highs are selling off on earnings. Many of these could and did drop 3 to 4 dollars in one day, so why are traders giving newbies instructions to buy QCOM and others now and hold through earnings? Its beyond the realm of sanity ---> senile.
These are the same folks that said IBM would hit 100 and EBAY as well and were buying well into the report. They said MSFT would guide way up and just took the losses and shoved them under the carpets. These traders were hyping AMZN as a buy at 60 and scores of others while dismissing the mounting downside as just "a healthy correction".
The same folks were buying JCOM, and the Asians and holding without stops and through reports, dismissing concerns of others all the while the stocks continued to suffer losses.
It's time these traders see beyond their own bruised egos and look to see the damage they have done in the past and will do in the future.
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