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

To: DOUG H who wrote (42306)	9/23/1999 12:37:00 PM
From: gdichaz	Read Replies (2) \| Respond to of 152472

DOUG H: Voltaire can, and I assume, will speak for himself. But I suggest that the big houses are interested in THEMSELVES. The houses trade for themselves. Clients are a distant second, big buck clients or no. And these houses are not major mutual fund operators, so not much in it for them. Now, I will get out of the way for the master, Voltaire. Chaz

To: DOUG H who wrote (42306)	9/23/1999 1:46:00 PM
From: Voltaire	Read Replies (1) \| Respond to of 152472

DOUGH, You must understand that the Houses benefit as a result of not having to pay what you might feel you have to pay for QCOM. The Houses will never pay $200 for QCOM unless what? Unless they feel it is on it's way to $250 or $300. That is exactly the case today. Also remember the Houses are not interested in quick profits on new purchases, it is the Billions and Billions of dollars in inventory that they want to see appreciate in very orderly fashion. When a gambler walks into a casino say with his house on the line, the emotion from th fear of losing is going to be a lot greater than the anticipated thrill of winnng. Th Houses know that time is on their side. They absolutely live off of PULLBACKS. Let me ask you a question, if you were sitting around with say a couple BILLION in cash and knowing how much you must believe in the Q, would you rather see it pullback so you could pick up more, knowing, and this is the key point, that at will you could almost make it come back or go up on a normal day. So in sumation, it is their inventories and not their recent purchases that they cultivate. Like I said, time is on their side. The last 120 yrs have proved that. Voltaire V.