Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.23

-0.6%

Dec 22 3:59 PM EST

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To: nokomis who wrote (34214)	7/7/1999 5:26:00 PM
From: Cosmo Daisey	Read Replies (1) of 152472

nokomis, Q* has made a terrific run and has pulled back 11 points from the high set a few days ago. This is normal market action and doesn't have to mean anything else. Stocks need to pull back a little to gain momentum for the next upleg. I placed a limit order just above the low for the day after the price started to recover expecting the price to pull back to test the low. The price did retreat and my order was filled. This is how support is established, orders placed just above the daily low get filled on the interday pullback. The market makers have to be short big time after the run Q* has made. Qosmo

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