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To: wlheatmoon who wrote (53794)7/29/1999 9:21:00 PM
From: John Pitera  Respond to of 86076
 
Mike, excellent article in Ziff-Davis and their related stories are super too .... I like wireless

cramer has the QCOM bug -g-

I Like to Buy Strength
By James J. Cramer

7/29/99 2:05 PM ET


Getting real interesting now. We just got out of a long meeting in which my partner, Jeff Berkowitz, relented and let me buy 5,000 Xilinx (XLNX:Nasdaq) shares. He is capitulating, I know it!

Yeah, it still looks terrible and this Taiwan outage doesn't help. But bonds are coming back -- I was never able to buy some -- and down 250 there is always a little something to buy.

On days like today, remember, I like to buy strength. Take Qualcomm (QCOM:Nasdaq). Here is company doing incredibly well -- I now like it more than Nokia (NOK:NYSE) -- and I want very much to buy it. Two points from now we think we can make good money. We are almost there.

But we remember all too well that the stock traded much lower just last week. So we are patient. We are willing to miss a snapback move, up 50 points for the market or 3 or 4 from Qualcomm.

Too early to buy. But too late to sell. Got Jeff to admit the latter, at least. And, get this, he just asked me about buying more Wal-Mart (WMT:NYSE).

He's coming around to my viewpoint.

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