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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 176.74-0.9%10:29 AM EST
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To: limtex who wrote (94179)2/22/2001 9:35:14 AM
From: Keith Feral  Read Replies (1) of 152472
 
The complete lack of tangible upside makes me feel that it is time to start chipping away at some of your favorite names, especially in telecom. The complete bravado with which people are selling reminds me of the gluttony that we saw on the upside throughout late 1999 and early 2000. There is an excessive amount of pessimism.

I believe that some of the stocks like ATT, WCOM , and Sprint are ripe to be bought, as well as Vodaphone. These companies will get the funding they need, although I hope that Lucent doesn't get the funding they need. Let the glut of equipment makers create some road kill.

I think that QCOM stands out as a real winner right now. The crap companies like BRCD are enduring the painful corrections they deserve. I remember a Navallier newsletter from the summer when he was promoting BRCD and bashing QCOM. I thought he was out of his mind then and even more so today. The Price to Sales ratios were completely out of whack with reality.

looking at the charts, CSCO was the big one I was waiting to collapse. Long term support at $25 looks pretty compelling. From an risk reward tradeoff, you can probably buy the stock with a decent probability of success in the next 2 years.
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