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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 179.26+0.5%3:59 PM EST
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To: Mr. Sunshine who wrote (22882)5/23/2002 9:35:26 AM
From: waitwatchwander   of 196971
 
SPARQS

The timing and pricing of these derivatives is quite interesting. I wonder about how they can be used in arbitraging short selling around resistence at the $34 level. These "SPOOQS" remind me of the stash of convertible preferred shares of Qualcomm from back in 97/98. Those shares converted at $72 and appeared to be used to hold the price in the accumulation range of low 40's to high 60's. It took the Ericsonn deal to break the $72 resistance level in March 1999.

I suspect trading (accumulating Q) with these new derivatives won't be as successful as trading the old convertibles. The $39 million float compared to the much larger float of convertibles means that the shorts are going to have be turned over more often than in the past. However, over the past year, the one thing I have truly learned is not to rely on my suspicions. Isn't that the "old" bears advantage.

The announcement of the product in conjunction with all the good "old" news (and colouful "NOK-like" phones) summarized in yesterday's analysts meeting only leads me to believe that the "sticky street hands" must be getting itchy.

Can't wait for the return of our natural forties home.

nf

ps Don't forget to board the train at $38.
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