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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 170.65+1.5%Dec 2 3:59 PM EST
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To: Craig Schilling who wrote ()2/9/2000 9:49:00 AM
From: CAtechTrader  Read Replies (5) of 152472
 
One reason QCOM went down and why it will go up.

I am the beneficiary of a trust set up by a grand parent years ago. I have nothing to do with running the trust and absolutely no say about what goes in it. Anyway, the trust company had bought QCOM early last year (lucky me!). In my most recent statement from the Trust Co. I noticed that they had sold half the QCOM at 154 a share. I called and talked to the trust manager and asked why he sold 1/2 the QCOM. He said they had sold half the QCOM in all portfolios after the split to rebalance the portfolio, that QCOM had become too high a percentage of the portfolio. (Meaning, this stock has been too big a winner for us and it makes us uncomfortable winning!)I noticed that they reinvested the QCOM proceeds into some dog value stocks. Anyway, I think this explains a lot of the sell off. When all this kind of selling is done the Q will punish these managers by reaching even higher heights! What idiocy it is to sell your winners because they are winners! I noticed they did not unload the stocks that went no where last year. Hang on everybody, this kind of behavior is never rewarded by the market. The Q shall rise again and soon. I can't wait to see these guys buy it back at twice the price!
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