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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 164.53-0.4%Jan 14 3:59 PM EST
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To: Kayaker who wrote (95095)3/2/2001 12:35:42 PM
From: Andrew N. Cothran  Read Replies (2) of 152472
 
How right you are Kayaker. That is why it took me a very long time, (like a week or so) to get to the point of using some of my QCOM shares to get a little cash by selling the calls. (One other observation: selling calls against a position puts one in the unhappy position of hoping that the price of his stock will not go up!)

That is an awkward position to be in, particularly if the rise in the price of the stock will bring one greater profits than the few bucks he gets for the call.

And I will be on pins and needles for the next two weeks. As you say, it is probably not worth the anxiety. And I have been in QCOM so long that I have experienced all of the "exhuberance" as well as the excessive pain along the way.

It seems to me that QCOM holders have to learn to ride the emotional rollercoaster. I think that this will be the prevailing situation UNTIL that coming day when QCOM is finally recognized for what it is: not only an exceptional company in its own right but a true incubator for many companies in the future. Speculators went to CMGI because it was an incubator, driving its market value up to around 48 billion (talk about irrational exhuberance!) CMGI's market value is now about 1 1/2 billion. Investors in QCOM need to remember that it, too, is an incubator, using its growing cash horde to seed those small companies coming along in the CDMA world. It is fair, I think, to believe that QCOM will most likely grow into an entity reflecting the GE model as the coming years go by.

Meanwhile, I will not let my shares get away from me. I will buy the options back before I will let that happen. And I just may have to pay the piper if one of your suggested events comes to pass in the next 10 trading days.

Thanks for your wise observations.
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