Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

+0.4%

Nov 10 3:59 PM EST

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To: Jill who wrote (66621)	2/13/2000 10:34:00 PM
From: Dwight E. Karlsen	Read Replies (2) of 152472

stocks always have a tougher time when they are trading significantly below their 52-wk high. If you take a look at the chart, you'll see that with just a rough count, there were over 300 million shares purchased at prices between $140-$200. Now, suppose you purchased 500 shrs at $150-160 range in the first part of January. Suppose qcom goes back to $148. You might want to end the pain of holding a losing position, and you just might sell. Those shares right now represent "overhead supply", and the chart is therefore damaged. If you don't agree, that is fine with me. But William O'Neil, founder of Investor's Business Daily, won't buy a stock that has a big load of overhead supply.

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