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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Rick who wrote (5817)	9/2/1999 12:27:00 AM
From: mariner	Read Replies (1) \| Respond to of 54805

Thread The evidence from Uncle Frank's post pre-open Wed am. I think we know who to blame for today's carnage. <g> "Good morning, Gorilla Hunters. It looks like we may have a good start to September: cme.com s&p500 September futures are up 5.7 points ndx September futures are up 14.95 points This is the kind of day that might take our Silverbacks to new heights. I'm rooting for Q to break the 200 barrier." Casino opens in 16m Franq

To: Rick who wrote (5817)	9/2/1999 12:50:00 AM
From: StockHawk	Read Replies (2) \| Respond to of 54805

Fred, good point. It would not be too hard to believe that a company like QCOM would not want analyst estimates to get too high. It is said that Microsoft talks analysts down, so that they can be assured of surprising on the upside. Its just prudent management. Considering the amazing run QCOM has had recently, a pullback of $22, although unpleasant, isn't all that bad. As Mike Buckley just posted CSCO has dropped 40% at times. We have to expect that tech stocks are going to race up and then correct from time to time. Reviewing the chart for QCOM shows that since the stock broke above its 50 day moving average on the first trading day of this year, it has never traded below that average - but is has corrected almost down to it on several days. Note the intraday lows and the corresponding 50 day average: Date Low 50 Day 5/26 86.06 83.63 6/2 90.63 88.01 6/15 101.19 97.23 8/5 135.88 132.79 Someone who uses technical analysis might say that the 50 day average has provided support for the stock. The stock closed today at 168.50 while the 50 day average is 156.03. So we are still a bit above it. I do find a point of concern with regards to the volume pattern. QCOM has an average daily volume of about 4 million shares. Over the past 90 days the stock has generally traded down on days having the highest volume. There have been 4 days during this period when the volume has exceeded 8 million: Date Vol. Up/Dn 7/20 9.7 + 4 1/4 7/21 12.6 - 6 5/16 8/3 9.0 - 12 1/2 9/1 19.2 - 22 1/2 It would be more comforting if the selling had less volume. StockHawk