Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

+0.4%

3:59 PM EST

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To: Ibexx who wrote (66599)	2/13/2000 3:17:00 AM
From: Dwight E. Karlsen	Read Replies (2) of 152472

While I'm bullish on Qualcomm the company, the QCOM chart is damaged goods, and it's going to take some time (and pain) to repair it. As I'm sure everyone already knows, there is a mountain of overhead supply above the $135-$140 price range, and so that will keep the lid on the stock price. I bailed out of the $140 calls I had after the stock recovered from the steep sell-off, and I haven't touched QCOM since, in any form. If I had to guess, I would say the stock will drift lower from here, by how much is hard to guesstimate. I will watch and wait for a base to be put in. At some point I wouldn't be surprised to see another downdraft, though probably not as low as before.

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