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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 161.41-1.9%3:57 PM EST
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To: Tom Kearney who wrote (90583)12/20/2000 4:18:40 PM
From: Ibexx  Read Replies (1) of 152472
 
Tom,

I think Fed's move yesterday - changing bias but not the rate - was a sound one. Only a few weeks ago the governors talked about inflationary threats and it would've created a credibility crisis had they authorized a cut.

[Believe me, nothing would please me more than a lowered rate]

On the other hand, given the market psychology the way it has been, I speculate that NAZ would've tanked anyway were the expected rate cut been in place. That would be DISASTROUS in my opinion.

It may serve the lone-term better if the collective mental negativity gets flushed out, preferably all at once and not bits/pieces at a time.

Cheers,
Ibexx
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