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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: George Dawson who wrote (29103)	1/23/2003 8:11:51 PM
From: windmast	Read Replies (1) of 29386

any thoughts about the emlx earnings release ? does it ( by inference) suggest any effects for Qlgc ? It was disappointing ( and may I add somewhat surprising) to see such a negative reaction to Q's earnings. Up to that point ( previous several days) the market had been responding rather positively to (imho) not so great earnings/sales reports from a variety of co's ( intel included). The trend semed to change right when QLGC reported. That trend has continued for a number of days since. Also........a number of BIG caps came out with disappointing releases and little in the way of guidance( which I believe is more credible, since we now know that all forecasts in the past few years have been bull.......the fact is that co's do not really know what the economy will do more than a few months ahead). Today the TXN reaction went the other way, and positively. I am somewhat surprised again.........ELX is up in ah.......but QLGC basically flat. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> my take out of all this: investors are VERY confused..........not a good sign for the market....... this company has performed very, very well considering the steep slowdown in tech spending. They have NOT gone in the red, as so many have. Useless for me to repeat what you guys all know so well! Incidentally I remember my disagreements back a long time ago with fed policy.........when markets were better and Greenspan was in such light/coverage. I remember several postings ( forget by who) defending Greenspan. In any case the Fed DID MATTER ! Now monetary policy is dead. The liquidity trap has shown its validity. We are in the range where lowering interest rates will not stimulate new investments. I am using the word investment in the strict economic sense. It has to be a change ( delta) in the stock of capital. Just buying an existing home is NOT investment from a macro point of view. windmast

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