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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: William who wrote (10378)	11/14/1999 9:22:00 PM
From: John Stichnoth	Read Replies (1) of 54805

William, Re QCOM's move-- Not to state the obvious, but a pullback this week is not a given. The two main things that move a stock are: 1. Changes in the fundamental prospects of a company's future earnings, and 2. Perceptions by market participants of the prospects. Q's actual prospects have been changing gradually for years, while perception of those prospects have lagged behind. Q's prospects continue to move up, while its visibility in the market continues to rise. The latest "improvement" (both actual and now perceived) is HDR. What I cannot tell is how much of the current buying is due to improved recognition of Q's prospects, or how much is momentum. Q will continue to rise [it is a Gorilla, after all]. On the other hand, technical analysts would state that a 50% pullback from the current runup from around 214 would be expected. Of course, we don't know if we are at the top of the runup. And, of course, the manual says don't watch the stock price too closely. We're just concerned with Q's position in the jungle. And that just seems to be getting better. Best, JS

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