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

To: waverider who wrote (66771)	2/14/2000 4:33:00 PM
From: Ibexx	Read Replies (1) \| Respond to of 152472

I am told - since I've never been in the pit myself - that it doesn't take much to drive down a stock, temporarily at least. The MMs on NAZ are permitted to short a stock on down tick [a tremendous advantage on their part], whereas the specialists on the big board aren;t allowed to do. This has been one of the most controversial points in efforts to reform the NAZ. Shorting the stock on down tick by a principal MM is one of the cues employed, I am told. Ibexx

To: waverider who wrote (66771)	2/14/2000 5:31:00 PM
From: limtex	Respond to of 152472

DH - MMs Q is bacalmed. No news and this can't happen with a mo-mo stock like the Q on a sky high P/E. We had a little help from the company re the China deal but that is all used up now and the shorts have discovered what is for them a short gorilla. They just keep selling and down it goes relentlessly $5 a day or so and seems today like there is nothing out there to stop it. Thats the trouble with having a P/E like this. Those of us who love the technology and the company run the risk of being slaughtered for love. Love is a dangerous game and not to be applied to stocks especially ones with these P/Es. On top of that its one of the markets down preiods in beteen earning seasons and if the NAZ takes a real tumble which at 4,400 or so isn't so unexpected then the Q will get whacked all the way to normal P/Es for a good growth company with a 'slow' quarter coming up. WE may be suffering because the Q got to its current P/E a little early ie if it got there this time next year with all the neew chips and services coming on stream there wouldn't be a problem but a year to go with Greenspan, his annual testimony, interest rate hikes, oil at a ten year high, a bad quarter coming up .....what chance does the poor old Q stand. Still