Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.20

-3.3%

Nov 6 3:59 PM EST

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To: qdog who wrote (5025)	10/27/1997 5:18:00 PM
From: IKM	Read Replies (3) of 152472

I'd say good luck, but I'm waiting. I'll see what the market does in the morning, but I'd say we have another day to run in this decline, at least. There are too many who did not get the chance to sell today, and I'd wager few like you who are willing to wade in in front of a tidal wave of selling. The decline was only 7% because trading was stopped. It tripped both circuit breakers, at 350 and 500, and consequently closed early. I agree that the Fed is likely to act in some manner, but I'd think we'll only see jawboning at first, that will let the market run. I don't believe Greenspan has the power to drop interest rates without a vote of the FROMC. You better believe there is a lot going on behind the scenes tonight, but can institutions be persuaded to embark on large buying programs at the open? Remember, Greenspan thinks the market is overvalued, and may view this correction as healthy as long as it doesn't go too far, whatever that is.

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