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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 168.09+1.8%Nov 28 9:30 AM EST
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To: A.L. Reagan who wrote (70500)4/13/2000 9:35:00 PM
From: The Reaper  Read Replies (2) of 152472
 
A.L.- Don't think we'll see Armageddon this time around just for the simple fact that most are expecting/fearful of it.
If the put/call and VIX stay controlled as you have pointed out, I feel that this will be a grinding summer. Declines will be small on a daily/weekly basis but consistent just so Joe Sixpack won't get too concerned until one day he realizes his portfolio has been whacked by stealth fighters.
I was a broker when the DOW bottomed at 760-something in the first week of August 1982. We had just that sort of summer. Each day your favorite stock was down 1/8-1/4. No margin selling climax, no capitulation, just grinding. When the market came alive the first week, no one believed it would stick. Kaufman was spouting off over at Goldman that interest rates were headed down significantly and everyone thought the old codger had been drinking again. I just have this feeling that it's going to play itself out that way again. At the end of this summer just when most have thrown in the towel and gone back to bond funds or worse yet, muni bond funds, we're gonna get that melt up off a way lower base and no one will believe that it's gonna stick. Remember, you heard it here first.

kirby
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