Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.13

+1.1%

Nov 26 3:59 PM EST

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To: marginmike who wrote (15908)	10/2/1998 11:38:00 AM
From: dougjn	Read Replies (1) of 152472

I think the viewpoint you expressed is the one that predominates during rallies, and the one I most recently expressed is what predominated during declines. In a sense I believe in both perspectives. Either is possible. I certainly don't think that a recession is priced into the market however. I think it STARTs getting priced in at market bottoms. But still only as more likely possibility, rather than a conviction. The we oscillate back up on thoughts that we're still doing fine. I agree with your notion of loading back up the boat somewhere around the low 7000's. Although I will be guided less by exactly what the Dow & S&P are at, than whether we've had a semi-panicked sell off in response, most likely, to some financial shock. However, I think it highly unlikely that the market will simply proceed to move strongly up from there and past the July highs. We're in for a trading range for some time. Which may or may not have a downward bias. Why? Because we certainly are not as low as its reasonable for the market to go if we do go into a recession. And periods of worry about those possibilities, at least, aren't ending next month. Seems to me. Doug

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