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

To: MileHigh who wrote (62356)	1/14/2000 9:36:00 PM
From: jmanvegas	Respond to of 152472

MH: Nice to hear from you also. My cost basis for QCOM is so low that even if it trades down 20% or so from these levels, that is okay with me. I feel confident by the end of this year, the gorilla will reawaken with a vengeance. However, this time, the gorilla may take an extra long rest and my prediction of QCOM running up into its earnings may not come to fruition. Last year was stunning to say the least, so I'm not so sure it is in the crosshairs of the momo players currently. As far as JDSU, the technicals look better, optical stuff is red hot, and I'm just going to hold on for that next split. I will then own so many thousands of shares of both QCOM & JDSU that I'll just sit back and let these 2 pups take me to the next level, wherever that may be - it could be down as well. (gg) But in 2-3 years from now, I won't know what to do with the additional wealth that both these companies will provide for my family. I personally don't like the action in the Naz - pure and simple. 100 points swings up and down is not normal. It is a trader's paradise. I was shorting INTC today near the highs and scaling up my shorts every 1/2 point or so. It was an easy trade. Too easy. I'm starting to look at the short side of tech stocks right now, and because I've lightened up considerably these last several days, I am armed to the hilt to take advantage of some severe down moves I see coming ahead. I think the play over the next 3-4 months is the short side. It takes guts to do this in the face of this tech boom, but the Fed is going to tighten, no question about that, and tighten more than once. The Fed says it is not targeting the stock market, it is targeting imbalances. Well - what one thing comes to mind that is imbalanced. The Naz is already approaching for the 2nd time Joe Battipaglia's year-end target. The Naz may make new interim highs in this run, but they will be short-lived IMO. That being said, I still will not sell my QCOM or JDSU. I'll just ride those 2 down if I have too since I'm so far ahead on them anyway and I love having multiple thousands of shares of each. Anyway, have a great weekend and good luck. jmanvegas