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

To: Didi who wrote (59899)	1/5/2000 5:13:00 PM
From: Jase Dean	Read Replies (1) \| Respond to of 152472

No called Investor Relations at Qualcomm and the Recording said they we're reporting on the 25th

To: Didi who wrote (59899)	1/5/2000 5:15:00 PM
From: djia101362	Read Replies (1) \| Respond to of 152472

Who's behind the tech sell-off? By Emily Church, CBS MarketWatch Last Update: 3:20 PM ET Jan 5, 2000 Market Snapshot NEW YORK (CBS.MW) -- Who was behind the sell-off in technology stocks this week? Not individual investors, argues Ameritrade. The online brokerage has started tracking the way its customers are investing and posting the daily action on the Web. The freshest data, at ameritradeindex.com, shows that a big majority of customers, 76.5 percent, were buyers on Tuesday, the day Nasdaq fell 5.6 percent. More Ameritrade customers were buyers on Tuesday than on Monday when 69 percent were buyers. And they're high-flying tech stock enthusiasts. The number one stock among the buyers was Qualcomm (qcom), followed by America Online (aol), Yahoo (yhoo) and JDS Uniphase (jd.su). (The top three stocks also happened to lead sell orders at Ameritrade, but by a much smaller percentage.) Of course, Ameritrade's index can't tell the whole picture on who's behind the technology stock sell-off. Strategists have pointed to a range of culprits, including small investors selling big tech gainers for tax reasons. "I think there's some merit" to the idea that institutions are leading this market, for a change, said Ned Collins, head of the trading at Daiwa Securities. "There has probably been a 'flight-to-safety' by a little bit of both." Fund manager Mark Dawson at Rainier Investment Management says he hasn't noted any bearishness emerging in small investors: "My impression is that the general public remains resolutely bullish. "My spot check with two dozen people is in synch with what Ameritrade's saying," he said. "All of these people are hooked on tech stocks. They think that's where the action is and where it's going to remain." Institutions, meanwhile, are likely acting more quickly to rebalance their portfolios to reflect concerns about the relationship between the level of bonds and the elevated level of stocks, he said. Profit taking was likely a big motive for both investor groups. "Both retail and institutions were very anxious to have certain stocks in portfolio (in December)," Collins said. "Some of these guys who bought in December can afford to sell a whole lot of Qualcomm and still have a huge profit." TrimTabs, which tracks money flows, won't have final figures on this week's action until Thursday afternoon. As it stands, the Ameritrade numbers run counter to the typical pattern TrimTabs sees during a sell-off, said Carl Wittnebert, director of research. Usually "money will chase the market the next day," he said. TrimTabs expects a majority of the assets they track are retail.