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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.80+0.3%Dec 5 9:30 AM EST
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To: KY who wrote (72450)5/25/2000 6:22:00 PM
From: jmanvegas  Read Replies (6) of 152472
 
KY: I'm here lurking. I've been watching this nightmare which I thought would never happen not with CDMA being the wireless rage these days. IMHO the gap at 59-60 would have to be filled to make technicians happy. Historically, QCOM has always had all gaps eventually filled. Where's the bottom? I don't know. I do know that QCOM is a broken stock and there will have to be a tremendous effort to clear a number of resistance levels that have been created. It just reinforces my hindsight belief that last year's run up was manipulated not only by the houses on the Street and momentum players, but by QCOM's management itself with the 4:1 stock split, the secretive sale of the handset division to eventually a 3rd tier player, the secretive paltry price they received for that handset division, etc. It was QCOM's management at its finest hour. Do I speak heresy here by saying that? You bet I do. All that is coming home to roost currently and the handwriting on the wall was when QCOM was downsliding as the Naz was twice going over 5000 and making new highs at that time. I now see support in the 50's and if Naz goes under 3000 to fill a gap in the 2850-2900 range, which it should, could we see QCOM trade in the high 40's. Okay all you die-hard Qheads. I'm ready for some more bashing from you folks.

jmanvegas
(isn't independent thought just wonderful)
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