Bought more QCOM today. Now have 20% of my money in QCOM, at an average cost of 47. Will buy more at 40.
With the Fed stomping on the accelerator (Fed Funds now at generation lows, adding liquidity with a fire hose), and the government back to Republican Borrow&Spend methods (no improvement on Democratic Tax&Spend), I think stocks are going to have a breathtaking rally, at the slightest excuse, sometime by early 2002. SOX up 50%, from whatever the bottom is. Nas up 40%, from wherever the bottom is. And, I think the Nas and S&P500 is nearly certain to be up in 2002. I have no idea when we bottom, but present prices on QCOM, EMC, NTAP, AMAT, etc. are all good for LT holding. Nas is back to where we were in October 1998. This is capitulation, maybe not today, but we are very close. I've about run out of my margin comfort level, so any further tech purchases will mean selling some of my housing stock. |
