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Robert, that makes sense, I got a feeling also that portfolio balancing is behind a lot of this. This reminds me of what happened with AOL last March after it had run so far, and the institutions sold it off. Lost 50-60% before it recovered and hit new highs. Hopefully Qcom won't drop as far, because it has a more certain future with its CDMA licenses, whereas AOL has to concern itself with ISP competition, broadband, and other issues. So maybe Qcom would give up half of what AOL did, 25-30%, and we already have dropped about that much, so let's hope we recover from here. Anyway, it is a gift for the small investor when large institutions sell off a promising stock like this. The problem is that few small investors take advantage of it becuase of the fear factor. Since they don't understand what is behind the price action, they assume there is something wrong with the fundamentals and sell as well. Stupid, really, but understandable from a psychological perspective. |
