Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 169.27

-4.8%

3:59 PM EST

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To: Ramsey Su who wrote (5835)	11/29/1997 4:07:00 PM
From: dougjn	Read Replies (1) of 152472

My guess is that we will have a year end rally ....though very uneven one in which a small part of the market really participates.... And then look out. For basically same reasons as you have. I think there is at most a fifty fifty chance that the Asian situation will REALLY hurt here. But there is much more downside than upside from here for the next several months, or until the market is really discounting the possibility of signif. slowdown. Most macro economists/strategists are between 4-7% growth in S&P for next year....while the sum of individual estimates have it at abt 14%. And I think individual stocks are trading one their individual supposed prosects, so somethings gonna give.... Maybe not in a low low inflation/interest rate environment, IF the market were convinced that inexorable upward movement clearly resumed smartly in 99. But I think the Asian issue will be something that is seen as kicking in for 2nd half of 98, and then possibly most/all of 99. So....I'm not all in cash, but partly, and getting more that way. From some margin earlier.... Regards, Doug

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