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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 171.54+0.4%3:59 PM EST
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To: max_a_million who wrote (106768)10/11/2001 1:37:42 PM
From: marginmike  Read Replies (1) of 152472
 
Firstly my trades are made on a Technichal basis, IE I am bullish now ST because 1)VIX at 32 2)COT covering short positions 3)P/C very high until today 4)QCOM resistence levels of 42.5 and 47 broken. I am bearish because of these MACRO FACTS 1)Consumers in the USA are taped they have the lowest level of equituy in their homes, lowest savings rates, and have been on a buying spree for five years. They will eventially get tapped out, and when the lose their jobs or their bonus's get slashed a lower interest rate wont help them. 2)Scott mcnealy and several other HONEST CEO's have stated quite clearly that business has never been worse, and analyst's who claim a recovery is right arround the corner are full of it. Scott M said"cash is a good place to be. 3) I am negative because historicaly Bear markets end with single digit PE's for the S&P not one in the 25 range. 4)Bubles dont end in pleasent ways with Housing and Auto sales near peak levels. 5) Technichaly the market is in a downtrend, and until that changes we are in a bear market. I may not be right, and sometimes I say things off the cuff, but I am no voltaire and would debate MACRO economics with you anytime you would like. We can discus Revision to the mean, or Kenseyean Economics, you name it Einstein.
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