Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 179.54

-0.8%

11:55 AM EST

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To: surfbaron who wrote (105487)	9/24/2001 5:43:07 PM
From: Keith Feral	Read Replies (2) of 152472

Did you see what happened to oil prices today? Have you noticed the strong relative strength of communications stocks like VZ vs. the rest of the market? Leadership has moved from energy and retail back to communications as a safe haven. Financial companies are printing money hand over fist now that the spread between short term rates and long term rates is 2.5%. That's an 83% annualized return on capital they are lending to new customers. A year ago, there was zero profits from lending money since short term rates were hgiher than long term rates. The FED funds futures are pricing in another 50bp cut in short term rates. Last week's capitulation created an extreme only witnessed a few times every century. I think stocks are low enough to create a LTB&H strategy again. It doesn't matter if this rally is a sucker's rally as long as people begin to realize the fundamental improvements in the financial markets 18 months from the March 2000 highs.

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