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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (36209)	7/20/1999 4:46:00 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 152472

You are absolutely correct, JG. Thanks for setting me straight <again>. FranQ

To: JGoren who wrote (36209)	7/20/1999 6:47:00 PM
From: Maurice Winn	Read Replies (3) \| Respond to of 152472

21 July 1999 Volume x Price Q! today traded 9.7 m shares [the reported number of shares which you say we should halve to get the actual number which changed hands]. 9.7m x $162 [average sort of price for the day] = $1.5bn The previous record for most money changing hands was when the agreement with Ericy was reached 'on the courthouse steps' for the world to go CDMA and Ericy to finally take up the opportunity to become a cdmaOne merchant after years of denial, absurdity and loss of position. On that day, there were about 12m shares traded, which was the second biggest number of shares traded after the panicked sale of about 16m on a single day in February 1998 when many people thought the end of the world was arriving because Koreans were suffering a big drop in their economy, having to stay home instead of going on overseas vacations. They bought cellphones instead of holidays, went back to work and the rest is history. Anyway, 12m shares on the Korean panic day x $80 [ASP] [that was before the split] = $1bn. The Korean panic big day was a mere 16m shares x $50 = $600m Today was the arrival in the big league. The entry fee for S&P500 buyers of the 4m shares is at least $640m and maybe $700m or even more if they sell all of the shares which are available. That is quite a handy addition to Mighty Q!s financial strength. They'll be able to fund CDMA education and production in China. They'll be able to do a lot. To put that in perspective, it is 5 quarters of profit at the current pro forma rate. What's even more fun is that this is all just the beginning. WK, 3G, Eudoracoin [TM], Globalstar haven't even started yet and each of them is almost certain to be much bigger than what we have seen so far. Oh yes, don't forget little details like Cinecomm [worth billions in its own right and Q will get a big chunk of that]. Mqurice

To: JGoren who wrote (36209)	7/20/1999 7:58:00 PM
From: Scott Overholser	Read Replies (1) \| Respond to of 152472

>>NASDAQ counts a buy and a sell as 2 in the volume indicator<< this is not an accurate generalization. it all depends on how the transaction takes place. imagine that you are a retail investor. you want to buy qcom. you contact your broker who just happens to make a market in qcom. suppose your broker does not have any qcom inventory at the exact moment in time which you decide to purchase. your broker may join the bid, buy the stock, turn around and sell it to you at the offer. the trade prints twice - double volume. there are many ways this could turn out. on the other hand, suppose you are the same retail investor. your broker is a direct order-entry firm and does not make markets. you want to purchase qcom - your broker uses selectnet and preferences a marketmaker that has been unloading. you get filled and there is only one print. volume is not double. there are endless different combinations. some result in double volume. others do not.