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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 159.42-1.2%Jan 16 9:30 AM EST
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To: Voltaire who wrote (59457)1/4/2000 5:53:00 PM
From: Gypsy King  Read Replies (4) of 152472
 
Voltaire,

I appreciate your perspective on the market and have learned quite a bit from you. Thanks!

However, I still feel that the Nasdaq has been on a very rare run over the last two months. And because of capital gains and window dressing considerations, there was almost no risk in tech stocks the last three weeks of December. Now that we are in January, it's my opinion that at minimum this market will trade more in line with historical norms. And macro factors such as interest rates and the health of the dollar will not be as ignored as they have been.

That is why I decided to switch my portfolio from over aggressive to moderate. I doubt today's selloff will turn out to be a single day anomaly. Most corrections last 2-3 months and I wouldn't be surprised if this one had some legs. Yes, the MMs might try and and turn the market around tomorrow after a morning scare, but if additional funds decide to sell on the bounce there will be little the MMs will be able to do but let the market fall further.

I hope QCOM can hold support at $160, but I suspect that $120 - $140 is a possibility, especially considering how QCOM has been overhyped the last couple of weeks.

Good luck,
Gypsy
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