Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 161.39

-1.9%

Jan 15 3:59 PM EST

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To: Jacob Snyder who wrote (106001)	10/5/2001 1:01:01 AM
From: Boplicity	Read Replies (2) of 152472

I think you are wrong about the overhead resistance being rung out this stock. Massive amount of vol. today was absorbed without a total break down in the stock. You can see the desire to own in how the slope of QCOM stock has moved from the high. Compare it to CSCO chart which has just dived downward, whereas QCOM has had many failed rallies and is more gentle. All of that leads me to believe that a lot of scared money still awaits higher. I also believe QCOM will make into the 30's as it moves down with the rest of the market's as the market at large corrects the rally off the lows. Furthermore, you are going to need something positive to cause QCOM to join in. QCOM is a lot like the Telco sector, (LU, NT, add QCOM to those) not as bad as LU and NT, still not enough positive news to cause investors to sit up and take notice and want to own and not worry about QCOM going lower. I would think, for QCOM, the time to buy would be when negative news comes out and the stock doesn't drop after a total washout has happen. B

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