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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (38907)	8/28/1999 10:10:00 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 152472

Gotta laff...Guess who's on top of "Cramer's Red Hot Index"? (Here they are. The Red Hots. The stocks that trade in points per hour increments. The stocks that have made people fortunes. I am going to track these, and keep you posted. The Red Hots, and their position size in my Red Hot Index, are below. These are the stocks that are up 300, 400, 500, 600 and 700%, and some of them have just come public. This was the biggest week for these Red Hots because Cisco the Great blessed the valuations. Rather than wait for Cerent, which would have been the next great Red Hot to come public, Cisco (CSCO:Nasdaq) scooped it up for about $7 billion in stock. Mind you, had Cerent come public, it would have had that same stupid charade all of the underwriters put us through, that torture where it opens a gazillion points higher than where it was priced and then keeps going up and up and up and up. If Cisco the Great had waited until Cerent had come public to buy it, I bet it would have had to pay twice as much. That's one of the reasons that Cisco the Great didn't go down after it paid what it did. It "stole" it before the momentum funds could take it to some level where it could never be bought. Shrewd move, King John!) Get 'em While They're ...You Know The Cramer Red Hot Index Ticker Year-to-date price performance % Wgtd. in index QCOM 636% 23.3% JDSU 233 13.2 BRCM 121 9.7 JNPR* 533 7.1 CNXT 335 4.9 PMCS 207 4.6 EXDS 437 4.6 ARBA* 485 4.1 QLGC 178 4.3 RBAK* 918 3.6 VRSN 274 3.6 RHAT* 464 3.4 BRCD* 847 3.2 PHCM* 619 2.3 EXTR* 331 2.5 NTOP* 406 2.3 CMTN* 452 1.8 ZOOX* 358 1.5 *1999 IPOs. Percentages as of Aug. 26. The stock market, when it finds merchandise it loves, immediately prices it so high that only those with a charter to own massive growth at any cost can afford to own them. I tend to blame the go-go mutual fund families for this. They run so much money now that they can't just get long 25,000 Brocade and have it impact performance. They have to own 250,000 Brocade. To get that, they have to sweep the Street. Once the 250,000 shares are bought, the stock is so expensive anyway that you can't justify NOT buying any more. (I picked on Brocade, but I could have been talking about any of the accompanying 18 stocks, including several potential rookies of the year. I could no longer resist. I am opening my hand to my readers. Here is a list of 18 of the most rocking, overvalued, wildly out-of-control stocks I have ever seen in my whole trading life, including six I own: Qualcomm (QCOM:Nasdaq); JDSU -- which we call JDSBlack, like Jack Daniels; Juniper (JNPR:Nasdaq)(unofficial son of Cisco the Great); Exodus (EXDS:Nasdaq) (movement of the people/Internet service provider); RedBack (not the Australian beer of the same name, but the single most overvalued beloved stock I have ever owned) and Verisign (VRSN:Nasdaq) (Matt Jacobs.com, my associate, has us into this one). Why 18? Because I reserve the right to be as I am, mercurial and capricious and arbitrary, that's why. Why not two divisions with nine teams each? Because there are no playoffs. This isn't the National League or something.) © 1999 TheStreet.com, All Rights Reserved. HOME TSC NOW MARKETS STOCK NEWS TECH STOCKS FUNDS/TAXES COMMENTARY INTERNATIONAL BASICS COMMUNITY TSC ON FOX