The QQQQ are up .75% today as it feels like earnings reports for FSLR and CSCO were leaked given the high volume on their gains.
Both are at new 52 week highs and since I already have a solar play, I'm going to go conservative and choose CSCO. Although CSCO could do nothing between now and 4pm Eastern tomorrow. It's what happens after hours on Wednesday that will increase or decrease my account. I'm choosing a small number of shares since most of the positive reaction seems to have already played out with CSCO up 3.3% today.
A reasonable target is about $.65 as next week is options expiration. If the reaction is positive, they'll bid it up to around $34.90. The only way it goes above $35 is if the perception of other QQQQ components is also positive.
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