Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 173.20

-3.3%

3:59 PM EST

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To: Ramsey Su who wrote (5034)	10/27/1997 6:54:00 PM
From: IKM	Read Replies (2) of 152472

Back offices were backed up today. I couldn't get through to my broker either via the net nor voice response, had to call a broker directly. He told me he had 25 calls waiting. The biggest part of the drop was very late in the trading session. It took just minutes for the Dow to go from 350 with the first trading halt to 550 when trading resumed. Also, some will be considering that they had better lessen their margin positions defensively before it is done for them. I realize I'm a ranting bear just now, but I believe that for the short term, it is appropriate. Others are making the argument that the correction is only 7%, so no big deal. I say that we were at a market top, and with the dynamics I observed today, we've got more to run. I always ask myself, "Is there more upside or downside?" Personally, I'll forego the potential retracing to avoid giving up another 7%, or more. BTW, a good indicator of a down market is the quiet that descends on these threads during the day. It indicates bulls freezing in headlights of an onrushing train.

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