The New QUALCOMM - Coming Into Buy Range Message Board

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Technology Stocks : The New QUALCOMM - Coming Into Buy Range

QCOM 170.90

-1.3%

Nov 7 3:59 PM EST

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To: Art Bechhoefer who wrote (871)	8/15/2007 2:00:12 PM
From: carranza2	Read Replies (1) of 9129

The subprime mess is just part of the mortgage debacle. The bulk of the ARMs and funny money mortgages are going to reset in the Spring. When they do, the interest rate hikes will be so large that many of the homeowners are not going to be able to pay the note. Foreclosures will rise substantially in '08. When that happens, a lot of the financial companies, banks, etc., will be affected a lot more than we have seen now. Perhaps more important, the outstanding derivatives out there are so huge that there is not telling how much can be lost. We have a bull market that is ending at a time when macroeconomic issues are lousy. I see a bounce back in the stock market in September and October, a slow decline at the end of the year and a drastic correction in the first three months or so of '08 as the bulk of funny money mortgages reset.

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