Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: JohnG who wrote (103086)	8/21/2001 9:24:49 AM
From: limtex	Read Replies (3) of 152472

JG - MM used not to be a bear at all. He changed. Looks to me like he has bee right even up to today. He has been warning of 9% to 12% unemployment and I couldn't find a number approaching that in the US statistics since 1948. The following seems to me to be becoming clearer imho:_ 1. There is no recovery this year. 2. Talk of a recovery next year is simply absurd as only a few weeks ago people thought there would be a recovery this year. So predicting one ofr next year or the year after is in the circumstances ludicrous. 3. Most companies in the industrialized world are now engaged in a frantic effort to cut out every bit if expediture they can. They are now in survival mode. Even big cap companies may have a real cash problem next year if things carry on as they are. 4. There is 'distribution' going on full steam. That is institutions gettng out of stocks but doing so carelyfully so as not to upset us shmucks out here who are fed a few mini rallies every other week or so and are fed scare of missing the train stories to keep the shmucks interested just enough so that the institutions can get out. I don't belive thsi accumulation stuff. IMHO it is the exact opposite. 5. Equities are to all intent and purpose now finished for a period of years until there is fimr evidence that business has picked up. Meantime the bears will continue to make money month in and month out and this of course helps to strengthen the negative sentiment. 6. My guess is that after the statement is released the market tanks. Whoever that German was who a couple of weeks ago predicted a massive crash was spot on. This daily down is just like the ones in April 2000, Sept- Jan 01 and Feb - April 01. Three quite distinct down legs and after each one everyone seems to be very cleaver about bubles and over valuations and that the market has much further down to go. So I predict it will be this afternoon. And after it has dropeed another 200 or points out will come Abby Cohen and the rest and tell us how the market is basically oversold and they are advising their clients to be 90% in equities. Yeh right. How about what Siebel had to say today. He got it right saying there is no end in sight ot this amybe the end of 2002. Please how about someone getting it right to the end of August 01 never mind the end of calender 2002. The only one who realy really got it right was MM. And he seems to me to be even more pessimistic by the week and he keeps on getting it right. Best regards, L

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