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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 168.08

+1.8%

Nov 28 12:59 PM EST

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To: FlameMe who wrote (45223)	10/18/1999 6:52:00 PM
From: Jenne	Read Replies (1) of 152472

The Bears Rang the Register Today By James J. Cramer 10/18/99 4:26 PM ET When people ask me what a short-covering rally looks like, I will point to this day as the prime example. The market ramped at the bell as people sold SPX puts and NDX puts to be sure they didn't get hurt by a benign CPI . Sure enough, this is just the kind of action we used to see in 1990 when a whiff of good news would cause the bears to ring the register. Make no mistake about it, even as I look to buy the drugs and the foods, I am struck by how the bears are calling the shots here. A bear capitulated and boom, we get a rally that looks great. But it just looks great. I was trying to sell some stock in some brokerages that I have been stuck in that I know are "wrong" here and it wasn't that easy to blow out of them. That's because it was simply programs behind the move. Should the bears be worried here? Nah, they should simply be gleeful. They have had a very big run.

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