Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.13

+1.1%

3:59 PM EST

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To: PoetTrader who wrote (70430)	4/12/2000 12:41:00 AM
From: jmanvegas	Read Replies (5) of 152472

This is the earnings season in which earnings do not matter unless the earnings are absolutely blow-away (beats the whisper by .05-.10, for example). The reason being is that high P/E stocks have excellent earnings priced in currently into their stock prices. Too much negative psychology regarding techs and IMO the Street still wants to extract more pounds of flesh from retail investors. There seems to be a concerted effort by the technicians on Wall Street to see last Tuesday's low tested. They would even prefer to see the NAZ hit its 200 DMA which is around 3200-3300 I believe. If that happens, many individual investors will feel a lot more pain and further margin calls will exacerbate an already shaky tech market. I'm almost certain that AG and the other Fed governors are feeling a bit victorious over the wealth effect right now. The fact of the matter is that the money being lost by individuals is winding up in Wall Street hands - what do they say - the wealthy get wealthier. It's not good for individuals to have too much wealth as they may spend it - it is far better to have Wall Street houses "control the wealth" as they are more judicious with their spending habits plus who else could afford a $2 million apartment in New York anyway. LOL. As someone previously mentioned on this thread, we might be seeing the start of a prolonged bear market for techs (prolonged as like 3 months or so in this day and age). If that is the case and I'm not suggesting it is, many individuals will be removed permanently from the stock market. It is time to raise the yellow caution flag and tread carefully. The Naz market has a stink to it right now and IMHO, any decent rallies should be sold into or outright shorted. That being said, I'm going to hold on to my QCOM shares whatever sh*t the market wants to throw at me unless the fundamental story changes which I believe it won't. However, I still maintain that QCOM trades within its wide trading range of 105-160 until clarification of China emerges. That is the catalyst I'm looking for. AT&T ain't happening and NOK signing on with QCOM is still an unknown and a number of months or even a couple of years away. Good luck all. jmanvegas

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