Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 178.29

-1.6%

Dec 12 9:30 AM EST

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To: Uncle Frank who wrote (99170)	5/15/2001 12:55:34 PM
From: limtex	Read Replies (2) of 152472

UF - Well thats a day!!! My guess is that we should take a bit of care here as I reackon that a lot of shorts got very badly caught on the wrong foot this morning. Q was in my view very vulnerable lat night as after the 1/2% reduction ( I really don't like the expression basis points! I mean who on earth in the real world gets talks in terms of basis points. Do auto salesmen talk in terms of basis points!) anyway after we gwet a 1/2% reduciton in an hour or so then what? My gues is that the market tanks and tanks for weeks if not months. It is sort of like getting a huge booster rocket to send you into orbit and once its been fired you just have to wait to see if it was enough. If it wasn't ...... Anyway I reckon the shorts figured QCOM as big sore thumb with a P/E of over 50, a just announced warning for this year, all sorts of FUD trouble on 3G and delays, trouble in Korea with the economy and just about everything, DoCoMo and the GSM gang lining up to cause problems for cdma in the US and of course just when we thought it couldn't get worse a Chinese pilot decides to play chicken with a plane load of US spies and gets killed in the process and ten minutes later we hear that Unicom has delayed all contracts. This was almost getting to be a joke. You couldn't have imagined more grief if you tried so I reckon the shorts thought that today would be gravy day as the Q went back to its natural home. Now they wakeup to find that not only is China now on at full steam but NXTL is changing to cdma???? I haven't seen the NXTL info in balck and white yet but I assume our posters aren't kidding. Anyway there you have it. I reckon the shorts have taken a massive beating this morning and they may try to keep selling to see if the y can break the price. They may well get desperate. If they capitulate .....well I would have thought it goes over $70. That it has not yet must be shorts doubling up and a bit of profit taking. Best regards, L

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