The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 169.42

-2.2%

2:15 PM EST

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To: Gregg Powers who wrote (1272)	9/4/1999 4:21:00 AM
From: Jack Bridges	Read Replies (1) of 13582

Technically, the stock had breached its upper channel line with negative divergence at a low-volume top, warning of a sell-off. Price has now returned to the lower channel line for the fifth time since March. The jolting adjustment was exacerbated by abnormal profit taking of abnormal profits; bunched up stops, and day traders who have made Q one of their favorite vehicles. It must have been a sobering experience for newcomers. This sell-off is somewhat reminiscent of what happened to FNMA in the early '80s when Volker gave rates their last squeeze. Here was the backbone of the mortgage industry getting slammed as though rates would never come down and Americans would never again want to own their homes. C'est la vie. Jack Bridges

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