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

To: MileHigh who wrote (45046)	10/17/1999 2:21:00 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 152472

USdollar is no worse versus JYen than two weeks ago when I focused on it... would not call that crushed... but US$ versus Euro is below critical support and that concerns me GO REDSOX... GARCIAPARRA FOR PRESIDENT 13 RUNS IS ALMOST AS SWEET AS 23 VERSUS CLEVELAND... STEINBRUNHILDA IS A JERK longbond yield is just a few basis points higher than two weeks ago... flight into safety (as was properly pointed out to me) keeps the lid on... if that money comes out of bonds when stock volatility subsides, and then that money enters stocks, we will have a reprieve crude oil suffered a $4/barrel single day drop two weeks ago... next comes a retest of the $25 highs... I expect a failure this decline could be prolonged... but Microsoft reports this Tuesday, and IBM on Wednesday... the big leaders come next to put a positive light on matters look at it another way... we have a rounded top developing on the S&P500 now... we sit at the lower boundary of that rounded channel now... some real potential for profits anytime we sit on lower boundary of any channel... it would not take much to produce even a reflex rally personally I would regard any 3-5 day reflex relief rally ignited by short covering as a selling opportunity for some of my positions / Jim

To: MileHigh who wrote (45046)	10/17/1999 9:09:00 AM
From: DaveMG	Read Replies (3) \| Respond to of 152472

More of what others have already said... The popular averages are all trending DOWN, ALL with nice big tops IN PLACE with the exception of the NAS: decisionpoint.com Of course who is to say whether these trends are anything more than intermediate in nature and when the BULL might resume but notice how far the NAS could fall just to get to where these guys have lower trend channels. decisionpoint.com You all keep talkin about the Fed..There are macro economic forces acting in concert which are NOT good for the US stock market,are probably beyond the power of AG to control, and are certainly outside the boundaries of what the "Houses" are able to manipulate. Are the levels of energy prices, the dollar and interest rates in absolute terms horrible? No of course not. ANd one can easily argue that oil prices cannot continue to rise etc, but at this point the trends are no longer "our friends" and we all kmow how the mkts like to take things to extremes. Stock prices "might" be just plain too high. Don't let yourselves be confused by the power of your portfolios which I presume have a large helping of the strongest NAS and SP500 stock in it, ie QCOM. The market may or may not get to us before it's over but I too have the feeling that this is not the kind of correction we've gotten accustomed to over the past few years. The mkt has felt tired for quite a while, most traditional signs of tops around for a while too. Maybe there just won't be any climactic selling? Let's look at some charts, most of which are trending strongly AGAINST the mkt. These charts depict what we already know but IMO they remove any illusions one might have about the direction of things. As we all know commodity prices are rising but unfortunately I can't seem to find a chart of the CRB to post from the web. Maybe someone can help? Interest rates: decisionpoint.com Money is leaving the US: decisionpoint.com Breadth charts which show us what we all already know, that money has been flowing to fewer and fewer stocks for a long time. Of course many of these favored stocks have enormous valuations and require heaps of dough to stay afloat. And these same stocks have been propping up the averages, the mkt, but at this point there just doesn't seem to be enough money to go around and perhaps their overvaluation is in fact weighing down the mkt. Something may have to give: decisionpoint.com decisionpoint.com Maybe we're already in a BEAR mkt? decisionpoint.com While it seems true that psychology is "improving" ie bearishness is increasing, and the VIX has risen to levels where a bottom becomes plausible, is there any reason to believe that this bottom will be anything more than a bounce, a temporary thing? decisionpoint.com decisionpoint.com CAN the NAS hang on? Dave @ watch-it .com