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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: Iris Shih who wrote (22325)	7/28/1999 12:58:00 PM
From: Johnny Canuck	Read Replies (2) of 69974

Iris, QCOM should remain strong till it is official added to the SP500(?) index. It looks over bought to me here. I would not try to go long unless we get more of a pullback. The forward guidance out of the conference call was very positive. The component shortage throughout the industry is a wild card. It is not one particular item. The supplier just did not expect this kind of strong demand. It takes time to build more capacity. The ERICY announcement that they will use QCOM ASIC's for the short term is good for QCOM for the next year. Note that DSP and other competitors are finally releasing their own chipsets this year in volume though. Harry

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