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To: Art Bechhoefer who wrote (129919)	6/26/2003 11:00:31 AM
From: Elroy	Read Replies (2) \| Respond to of 152472

Off Topic - who knows NYSE rules?!??! I got totally screwed this morning. If anyone knows whether the NYSE has any rules which allow the small investor to respond to the following I would appreciate it. I've had a limit order to buy to cover a short position of 1,500 HPQ shares at $20.34 in at TD Waterhouse for a few days. HPQ opened at $20.70 and traded 2,134,000 shares. It then traded a few times between $20.75 and $20.60. Then the fifth trade of the day (according to Bloomberg) is a sell of 497,000 shares at $20.30, BELOW MY BUY TO COVER ORDER. Then the 6th trade is 2,313,000 shares at $20.30, BELOW MY BUY TO COVER ORDER. Then there are four trades at $20.31 for a total of 118,000 shares, BELOW MY BUY TO COVER ORDER. Then it trades 217,000 shares at $20.35 (above my buy to cover order), and the shares moved higher from there. So I have had my order in for a few days, haven't moved it, and the specialist jerk traded almost 3 million shares BELOW where I have a BUY order in, and I've gotten nothing filled. This cannot happen on Nasdaq, as Nasdaq mandates its dealers to honor trades in terms of price, then time, then size, so Nasdaq cannot trade below your limit buy or above your limit sell without you getting filled. I know this because I have successfully forced TD Waterhouse to honors Nasdaq limit orders when this happened in the past. If there are any NYSE people that I can complain to and possible get TD Waterhouse to honor the order please let me know. Elroy

To: Art Bechhoefer who wrote (129919)	6/26/2003 6:22:56 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

Art, I'm being a bit pedantic here, but OmniTRACS isn't doing well because there's no competition. There is. They are doing well because they have developed a product and service which is much better value for money than any other option. Which of course means there isn't much competition, in that narrow segment of business, but the way you put it was putting the cart before the horse. <The only exception is OmniTRACS, which was QUALCOMM's first product, and which continues to be a real money maker because there is almost no competition for the product. (Other products available on the market do only a small part of what OmniTRACS does.)> Sorry to be picky, but I'm very sensitive to the commonly expressed idea that companies "control" markets or customers and that companies have monopolies. In one sense, every transaction made at any time in any business is a result of an instantaneous monopoly, but in reality, there is no monopoly worthy of the word in nearly all circumstances. My fear is that QUALCOMM will come to be seen to have a monopoly worthy of government edict and confiscation. It is only a monopoly in a very narrowly defined sense. I dread the day when some idiot says QUALCOMM has a monopoly and controls a market or subscribers. As the cash flow rises and market share increases, the demands will rise to drag QUALCOMM down into the muck along with the rest of unproductive confiscatory humanity who can't get their own life, find their own customers and invent things that all people want. Managing the transition to being a $trillion company will be tricky. A monopoly only exists if one is prepared to create a narrow enough boundary. But envy exists. Greed, stupidity and jealousy too. They are expressed at ballot boxes and in politics, where confiscation, domination and old-style tribal hierarchies still rule the roost. Unfortunately. Mqurice