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  • John Ray
    Participant
    Post count: 19

    Considered QCOM lately?

    I know we’ve come back around to Orher stocks before.

    Sean Hyman
    Keymaster
    Post count: 10265

    No, but at least its come out of the clouds, like I expected it to. Right now, there are just other stocks I like better that I think are either have been pummeled more, or are more defensive during this time. So, since we all have a finite amount of dollars, I have to say, “What is the best use of our investment capital right now?” rather than does X stock look good right now.

    No doubt, QCOM is a good company and is at a much better price that it once was and that it’s pared back like I said it would do. But with its forward P/E of 18, I believe we can do better, right now.

    Jeff Crowhurst
    Participant
    Post count: 161

    Sean,
    Would you consider QCOM these days? Why/why not?
    Thanks
    Jeff

    Sean Hyman
    Keymaster
    Post count: 10265

    No, because the sentiment is too positive and the price is a mile away from its 200-week moving average. Huge downside risk potential.

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    Jeff Crowhurst
    Participant
    Post count: 161

    Sean,
    When I look at the 200 day on the daily chart the stock is sitting right on the 200 day SMA. When you look at the weekly chart it is way above. How are we to know when to use the daily or weekly for investing?
    All fundamentals are sound. Do I use the daily if evaluating the stock for an option play and the weekly for long stock play?

    Sean Hyman
    Keymaster
    Post count: 10265

    In investing or trading, it’s always beneficial to look at weekly, then daily, then hourly charts (if the first two look good) and in that order. They all show different things.

    The longer-term charts are are more important than their shorter-term charts.

    For investing, weekly charts are most important and daily charts are secondarily important.

    For trading, while all 3 charts are important, its imperative that the daily and hourly charts look compelling.

    For investing, the 200-week moving average is even more important than the 200-day, which is also important.

    The longer the time frame, the more you see. The nearer the time frame, the more granular you see but if you only look at the nearer-term, then you don’t have the context of how it fits into the longer-term.

    Jeff Crowhurst
    Participant
    Post count: 161

    Thanks for clarifying that!! Makes sense!

    Sean Hyman
    Keymaster
    Post count: 10265

    You’re welcome. Charts are like maps. You know how a state fits in if you can see the larger United States. And you know how a city fits in if you can see the state, etc.

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