The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 155.82

-1.3%

3:59 PM EST

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To: Art Bechhoefer who wrote (12525)	6/18/2000 1:37:00 PM
From: quidditch	Read Replies (1) of 13582

Art, the more relevant and important aspects to the linkage and timing between the spike in open interest in o-t-m Qualcomm puts on Wednesday (hyped to the thread by one poster named "Maverick") and Snyder's comments are the following: 1) the securities laws' mandated separation (or "Chinese Wall") between the analyst side/investment banking/portfolio trading: this prevents, for example, the houses' employing trading strategy on not-yet-public comments made by the analysts in their employ or trading based on not-yet-public information dredged up in due diligence by the corporate banking side working on a public offering. As noted by some, the coincidental timing of the spike in open interest and Snyder's comments appears suspect, at best. If anything, one would have thought the bad news was already out via the BS conference commentary on Thornley's comments at the analysts' conference; and 2) Rule 10b-5--the general prohibition against use of any false and deceptive practice in connection with any purchase and sale of a security: false and misleading information/omission of material information/employing any deceptive practice in connection with any securities sales/trading activity. This is not my area of expertise, and I think that questions of fact, such as showing the requisite intent in such purchases and sales, is difficult of proof. There was a very unpleasant aroma in the air on Wednesday and Thursday. And it is unlikely to be cleansed soon. Unfortunately, there were enough questions concerning G's progress in MOU's/handset sales/cash flows and burn rate to make Chase extremely conservative in considering a renewal of the credit line to G even before Snyder added fuel to the fire. Steve

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