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

To: Jim Willie CB who wrote (45352)	10/19/1999 9:19:00 PM
From: marginmike	Respond to of 152472

I think that some have already(DOW, Transports, Utilities, BKX) and others still have to(QCOM,SUNW,JDSU)and other high valued TECH STOCKS. I am not woried but I think we trade side ways to down for a month or too. I think in Decenmber we will begin to rally.

To: Jim Willie CB who wrote (45352)	10/19/1999 10:30:00 PM
From: Ruffian	Read Replies (1) \| Respond to of 152472

Market Summary 10/19/99 The Next Shoe Has Dropped by Joe Duarte The next shoe has dropped. Elvis has left the building. The party's over. All those catchy phrases can be used to describe the current state of the U.S. stock market. No, we're not suddenly into Astrological Analysis, or looking at entrails, but with NASDAQ down over 100 points two days running, in spite of a bounce in the Dow, it's not hard to see that this sell off is gathering steam. The pharmaceutical stocks and the telephone stocks are so far resisting further down side action. The former are very sold out, while the latter are still riding the momentum of a merger craze. The main culprit for the down draft in stocks is the threat of higher interest rates. But the overwhelmingly negative technicals are now too visible to ignore, even by non technicians. The most striking of all aspects was the high levels of optimism expressed in the options markets, where the CBOE Put/Call ratio closed the day at 0.59, compared to 1.05 on last Friday's rout, turning market sentiment very negative on a contrarian basis going into an important release of the Consumer Price Index. While the Dow rose over 90 points, the small stocks continue their slow erosion. The S&P 500 refuses to fall below 1250, masking the overall weakness in stocks, which is visible on the NYSE advance decline line. The NASDAQ Composite has now fallen below 2700, as the semiconductor stocks fell hard, and Dell Computers pre announced an upcoming earnings short fall after the market closed. Momentum continues to weaken, as Our BMTI indicator, has fallen below the 1 level. The number of overbought and oversold sectors, confirms market complacency, giving our MASI indicator a neutral reading. Intermediate sentiment measured by our MAGI Indicator, which is nearly oversold, and long term sentiment measured by our Super Seven Market Forecaster are bullish, but not at levels which suggest the decline is over just yet. The internet stocks, are holding up but it's difficult to predict if that will last. Especially sturdy is Sun Microsystems (NNM:SUNW) our Chart of the Day. Telephone stocks, are also making a move, as in our Technical Snapshot,. Our Sector Selector looks at some semiconductor stocks which may weather the storm, and our Market's Message, revisits some very beaten up and cheap pharmaceutical stocks. A drop below S&P 1250 suggests major trouble and should be used as a signal to hedge long positions with Rydex Ursa Fund (RYURX). We still suggest an overweighing in technology, and Japan, if you must own stocks.