Marginmike you are oh so right. I rode with QCOM between 37 and 64 for oh so long back in the pre-Ericy days (before the pre-Texas trial cancellation). I went back an looked at my trading history. Prior to that deal, I owned 3000 QCOM at an average of about 48. (This is all before the first 2 for l split in early 1999 and the 4 for 1 split at the end of 1999). I traded 1000 of them back and forth just for the thrill of it all. On February 22, I bought 1000 Qcom at 66 (8.20 split adjusted). On March 8 1999, I sold 1000 shares at 77 (9.60 split adjusted). On March 9, I bought the 1000 shares back at 79 5/16) (9.90 split adjusted), suspecting that something had to be in the works, given what was happening to the stock. I bought an additional 1000 shares at 79 5/16 (9.90 split adjusted). The action was just too great to be ignored based on my wearisome experience with QCOM the prior two years. And, since I was living in Texas at the time, I was able to follow the pre-trial activity between QCOM and ERICY in the local Austin papers. Behind all the smoke and mirrors, it was apparent to a careful reader that something was up. The March 9 purchases were just before the the Ericy settlement and subsequent bombshell.
You know what has happened since then.
And, I believe along with you that what we are witnessing now in the daily ups and downs of Qcom is similar to those days and months (and years) prior to the Ericy capitulation.
I don't trade QCOM anymore. I just sit on my shares and watch the action. Some days I am enthralled. Some days I am not so enthralled. But I just sit and watch knowing that the future for Qcom is as bright now, if not brighter, as it was in those days just prior to the Ericy settlement.
PS: Today's trading range between 120-150 for Qcom is a trading range of 15-18.70 on a pre-split basis. Remember that QCOM split 2 for 1 in early 1999, and then 4 for one at the end of 1999. Remembering these facts keeps the perception of us old-timers on an even keel, even when we read the new old Qcom threads and the new new Qcom thread. |
