Site Meter The Lawyer Trader: QCOR = Sell

Tuesday, October 28, 2008

QCOR = Sell

I don't know what's going on with QCOR but the market is saying that it's a sell and I don't fight the tape. The S&P 500 closed up 10.79% (can you say bear rally?) and QCOR closed up a measly .83% and then it even traded into negative territory in the after hours(which doesn't mean much). That kind of divergence is not usely a good thing. Here's a 5 minute chart comparing QCOR to the S&P 500 for the last 2 days. As you can see, I used a yellow line with crude asterisks to show the spread between QCOR and the S&P. At this point, I don't care what the technicals say in the near future, this stock was left behind on a day when it should have been rallying. Either there is something majorly wrong with this company or this is just some crazy action that you can only find during a bear market in a high flying stock. Regardless, it's too risky for me at this point. Like I said, I don't fight the tape and the tape is telling me to stay away.

Good luck out there.

TLT

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