Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: marginmike who wrote (61676)	1/12/2000 10:07:00 AM
From: JohnG	Read Replies (2) of 152472

MM. I think you suffer from a bad case of "Black Dog" any time there is a serious correction. Testing the 50 day moving average is not a religeon for me and I don't have a fetish for moving average charts. What we have here is a stock that appears to me to have fundamentals that justify a $600/150 stock today. However it is in a hot industry with a high profile and can support higher prices if the market taves it there. It is trading now at apx $145 which is 19% off its high close of 179 on 1/3. It is just too good a value at the 50 day moving average price of 114 for it to ever get there barring jarring news or some dive in the NAZ. It isn't like some internet web site stock having no earnings and trading on hope. It is popping up on everyone's list of top picks for 2000. All this volatility es expected with recent run, 4:1, a new tax year, huge built in fund profits in a single stock (remember, Greg Powers was forced to sell half his shares in summer 1999to meet prudence rules, despite his huge faith in the stock), a huge number of Jan options expiring on 1/20 (many hving rediculously low strikes, earnings report on 1/25, sale of phone divition details unknown. This is a news driven stock and good news could be reported at any time. Remember that one characteristic of gorrila stocks in a tornado is that earnings are continualy underestmated. Open your eyes and look around--don't just look at that damn 50 day moving average. JOhnG

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