Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.59

-3.9%

3:59 PM EST

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To: waitwatchwander who wrote (119462)	5/29/2002 11:10:30 PM
From: Wyätt Gwyön	Read Replies (1) of 152472

Why is Qualcomm still trading around $31? Why hasn't it fallen with the sky? QCOM peaked at $200 a share on Jan 3, 2000. so it is down nearly 85% from its peak. that's a pretty severe haircut! besides, i wouldn't get into a victory dance quite yet just because QCOM has "soared" to $31. if you look at the chart of just about any (falling) Nasdaq stock, since 2000 they have typically tanked to a short-term oversold position, then rallied but to a lower high, then tanked again to a lower low, then rallied again to a lower high. etc. etc. it looks to me like QCOM has been doing just this sort of thing. i don't see why the process should be magically over now. the co hasn't announced anything spectacular to cause the recent rally. certainly Jacobs tried to support the stock by exercising some low-single-digit options, but that is totally unimpressive. (it's not like he's going out and buying fresh shares at market!) an old broker friend telling me the time to buy is when all the noise is negative and the stock doesn't react. there isn't much negative noise, unless you're talking about one or two posters on an internet chat room. of course the analysts still love QCOM, just like they have all the way down. and most posters still love the stock as well. if you want to see what a real bottom looks like, draw up a 10-yr chart of a bunch of gold miners. i don't think QCOM's chart looks like anything more than a short-term bottom BWDIK.

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