Shorting the semis... QCOM thoughts
Can't see how some of these semis are not overvalued pigs, personally. The one I'm using as a dark-side vehicle is NVLS. Over the top PE, Price/Sales, poor earnings report, and little signs for upticks in orders (imho)... yet swept up with the others in the rally and short covering. I suppose I'm saying I think the rally is OVER for all intents and purposes... right-wingers in control and the world's cheapest money notwithstanding.
Regarding QCOM, sure could be trade-worthy here as a long, but I am not interested here just based on FA.
As an aside, I missed half of the up move by getting out too quick, and then went to the dark side a bit early. Hindsight is soooooo good, it's uncanny how well one can understand it all looking back, eh? :)
Nice job with CSCO write-up, Zeev.
-- Bale
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