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: mmeggs who wrote (16255)	10/9/1998 6:50:00 PM
From: dougjn	Read Replies (1) of 152472

I think the rally was for four reasons. 1) Stocks quite oversold (i.e., technical); 2) rumors circulated (by badly hurting financial institutions) that the Fed might lower rates before it's next meeting in mid November; 3) the increase in the interest rate of the long bond took some pressure off of hedge funds, banks and brokers (the later two of which rose strongly today as a result); and 4) earnings reports are upon us, some of which will be good. I think the last is the only one that has any lasting power, and really not all that much. Because forward guidance isn't likely to be too robust, overall. Still, it might continue for a few more days next week. If so, a good lightening up opportunity, in my view. We're gonna have a really bad break below 7500 Dow before this is intermediate term over, in my view. Probably this month. A great buying opportunity, if that happens. Of course I could be wrong. Doug Doug

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