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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.01-0.3%Nov 14 3:59 PM EST
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To: marginmike who wrote (103424)8/30/2001 1:09:37 PM
From: limtex  Read Replies (3) of 152472
 
mm - unfortunately that isn't quite the case although QCOM is usually among the last to fall it eventually does adjust to the lower valuatinos of the rest of the market. remember how it held up for acouple of weeks after everyting else crashed in the Feb downleg.

This downleg will be no different. i read that there are 6,000 hedge funds that are now regularly shorting the market and they take the easy one first and then mop up the more difficult cases.

It is clear now that GW is clueless and totally impotent and his Treasury Secretary is if anything an order of magnitude less able to realize what we are faced with never mind start doing something about it.

I see no possiblity of a rebound in business this year and probably next year since a turn round is now such a huge leap of faith for businesses that they will take a lot longer than usual before they risk valuable cash on risky expansion.

My guess is that we will only get out of this mess in Nov 04 when the Dems will come to the election on a platform of repairing the damage that GW has done to the economy. Probablythey will offer a New Deal. Doesn't matter much since my guess is that the damage GW is presiding over is so vicious to the average investor and to the economy that the Dems could put Louis Farrakhan up in Nov 04 and he would win.

So my sad guess is that we are in incipient freefall with no firm Administration initiatives or business turn around possible.

Best regards,

L
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