Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.01

-0.3%

Nov 14 9:30 AM EST

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To: Win-Lose-Draw who wrote (88170)	11/24/2000 12:04:23 AM
From: trilobyte	Read Replies (1) of 152472

Yes, it is indeed well known that when the going gets rough, most people head for the exits. It's also called: sell low, buy high. The downside risk at Naz=2750 is much smaller than it was at Naz=5300. Somehow, many (with vested interests?) would like us to believe the contrary. it's also well known that the lower the market goes, the louder you will hear voices calling for the imminent meltdown of equities and the economy. It just reinforces the prevalent trend but unfortunately carries little or no predictive value. finally, most people make their money from their hard work (not by stock market gains) and I think that most people here will agree that nearly everyone who wants to work in America is working. comparing the situation in 1929 to the one we have now may be an amusing exercise, but in the end, it is comparing oranges to apples: nothing useful will be learned. 1929 was a totally different era. as for Greenspan, he's reactive, that's all. He's just waiting for the long term bond rates to drop to adjust the short term rates. Unfortunately, he's screwed up in 1998 (should not have lowered rates, Asia was working itself out of its problems without that boost). He screwed up again in 1999 (should not have increased liquidity in the manner he did ahead of Y2K) and again in 2000 (the last 1/2 basis point rate hike was totally uncalled for and caused a precipitous drop in equities). Funny he's so revered by everyone. The longer the Naz bear lasts the more this unfortunate opinion will be questioned. Trilobyte

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