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

To: Jill who wrote (49929)	11/14/1999 10:22:00 PM
From: Dealer	Respond to of 152472

Jimmyjohn and jill "The devil made me do it." This post is stolen from YAHOO!! by: Pattern Recognition11/14/1999 8:21 pm EST We have been overwhelmed by email from the board asking our position on QCOM since our 8th buy signal on Wednesday. Let us state, Nothing has changed, all buy signals are in effect still. We have never had any stock we trade have a "cluster' of so many open and ongoing buy signals, none of whose risk criteria has been violated. The only adjustment we made was to sell 1/3 of our QCOM stock and buy a corresponding amount of call options whose quantity was delta adjusted to keep us at a full position. This is simply the equivalent of setting a stoploss in the market on 1/3 of our position. In addition this move actually INCREASES our capital available to ADD ON to our position. As we said our projections were rising into the 400ish level, our projections are actually now rising considerably beyond that level and wished to have more capital available to maximize our position should yet another buy signal occur in the near term all the while having "locked in" a bit of profit on a third of our position. We must admit we don't usually read the QCOM board, but upon proding by our "friend" we have read the board this weekend. We don't use sentiment indicators, but if we did, We would be worried if short. The shorts are working this board overtime this weekend with "vapor". No substance at all to their predictions of doom. But there sheer quantity shows that the short side of this trade is panicing. In any event, the short sellers should be cautious on this stock. We do study similar patterns of similar stocks in similar time periods that have made similar moves. That type of study shows that a stock that behaves like QCOM has to date often goes 2x or 3x higher from this point before any meaningful pullback. Of course we are risk managers and will vigilantly monitor for sell signals, for our loyalty is not bull nor bear, just right. (We are short other stocks fyi, we are not perma-bulls), however, there are no sell indications here what-so-ever in answer to everyone's questions. Just ask yourself, What can I sleep with? Keep that amount on and let er' ride. Good luck to all.