I think QLGC and the semi's as a group are toast for the rest of the year. There is no growth at all. There are no prospects for growth. TA wise, QLGC is heading for 20 bucks.
QLGC is not in the semi group. SAN. They make chips for SAN , but t's not a semi stock, Doesn't trade like the SOX components either.
Any good idea, why it is falling so much in last two days? I know, that ELX had bad results, but why BRCD fell so much? Pure sympathy? Their Q2 report will come out soon, any ideas for direction? Lojze
As has been mentioned, QLGC isn't even part of the semis. No growth? According to IBDs, its earnings growth is better than 80% of all companies. T/A wise, I'd say QLGC held up rather well during the July sell-off, on a relative strength basis. Going to 20? I have no opinion, and I don't care to think towards the end of the year. You may be right, good luck to you. Sounds to me though, you're just talking your position and hoping to get confirmation from other traders.
They are starting to crack. QLGC just broke its support, it is at least going to 30 short term, if it breaks that on volume it is going to 20.
I'm short too. On a 1 year chart it looks like it'll definetely go to low 20's, but due to today's market action and QLGC afterhours action it may go to 36.50- 37 if it'll break 35 -35.60 area in a regular session. Let's see what tomorrow will bring us. Somebody was buying huge today and it weren't just shorts, who jumped on a bandwagon. Maybe some fund managers looked at the charts and decided that it's their last chance to change the market direction . That could be their evil plot - artificial creation of the Bottom.
We'll see how strong it is. Although, I'm ready to cover - it really looks like a bottom now and I wouldn't hold short too long if it's really THE reversal.