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hungry_hippo

QADA No Volume

Short
hungry_hippo Updated   
NASDAQ:QADA   None
Chart Patterns
2
0
chartpattern
No volume post earnings, big spread between bid/ask, no traction on a big up day for the market. Expecting a slow decay as momentum traders lose interest.

Target $41, lower if the market tanks after this dead cat bounce.

Comment:
Doing the math on this one, it earns about $.20 per quarter with no earnings growth. If we're generous and give them $1/year in earnings, then the P/E ratio is 42.7 for a company with no growth and <1% dividend. No wonder why the market lost interest. Long term I expect this to get cut in half.

Looks like the indices are setting up a bull flag, expecting the market to jump up hard on Monday. Considering the spread between bid/ask on QADA options, I'm maintaining my puts on this one.
Trade closed manually:
It's just waffling around here, better things to play with the market tanking. Closed the trade with a little profit.

Still think it'll wind up in the $20 range eventually.
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