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

To: Art Bechhoefer who wrote (25338)	3/27/1999 5:40:00 PM
From: Ramsey Su	Respond to of 152472

Art, Some of the initial buying must have been short covering, as there was a short position out there somewhere around 8 million shares. I think Thursday afternoon before close was the text book short covering, lots of buying pushing the price up at close. It will be interesting to find out exactly what the mix is TODAY. Per Zacks' March 22 report, QC was 34% institution owned with insiders holding 13%. Short interest was a little over 10%. The float is actually relatively large. Even though we traded over 20 million shares in the last two days, it was still less than the float. Unlike the ebay types that can trade the entire float a couple of times a day, QC's advance may still be considered orderly. It is too bad that the advance came so fast. Maurice is going to have to redo all his 80 by March or 20/20000/20/??/ Ramsey