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

To: 16yearcycle who wrote (46557)	10/29/1999 8:48:00 PM
From: Voltaire	Read Replies (5) \| Respond to of 152472

Hi Eugene, The way it looks now, I was about ten days off on when I thought the Markets would explode. I felt it would be about the first part of the Thanksgiving week. Because I have been saying everything would come earlier this year, I thought there was a small window for one more Cherry Picking opportunity for the Houses. I felt we might see a slight pullback around Nov. 10. The main reason I have felt this market could not really decline big time is because everyone including the Houses can not help but look forward to the year 2000. I feel this is proving to be the case. I feel we will see the individuals and institutions with huge blocks of money on the side, race each other to beat the Jan. effect thereby creating an even more powerful year end dynamic. My feelings about QCOM in the near term come down to one thing, the announcement of a STOCK SPLIT! I know, I know, the Econ 101 people out there are going to say a stock split means nothing but a division of shares, I say BULL---T! There are two types of stock that can split, first is the split of a stock with no great demand and second the split of a stock with great desirability, well QCOM falls in the latter, B.F. Goodrich in the former. I feel great earnings are already priced in and there is another dynamic that bothers me. Certain stocks have what I term, Ghost Expectations, in other words everyone is expecting something great at earnings but they cannot tell you exactly what it is, QCOM is one of these. So, I still see us around 225 to 230 Tuesday afternoon and if we do not get the split announcement I expect it to fall about 20 pts. in the following three or four days. I will be getting all of my people out of their positions by 50% and yours truly as well probably sometime Monday. Still see a pretty good correction in the second quarter of 2000. Selah, Voltaire