To: Sully- who wrote (5698 ) 2/29/2000 11:34:00 PM From: Jim Willie CB Read Replies (1) | Respond to of 35685
two interviews on CNBC today, Galvin and Battagliaglia Galvin: - worst parts of the correction are over - likely to see stock rally up to quarter's end on March31 - one MUST invest with the unit growth firms like technology, media, telecom, biotechs - thus offsetting higher interest rate costs - lately the fallen include online brokers, etailers like AMZN, but not Busy2Busy internets who have real profits coming - New Economy firms have less debt on books, and much needed products in the economy, so less susceptible to interest rate changes, and spurred by heavy growth - dont be fooled by Old Econ firms embracing internet, like NYTimes, bigshit matters little, growth is name of game best yet: Greenspan has become the poster child for the Old Economy Stocks !!! Battagliaglia: - semiconductor growth prospects are enormous - peace dividend has been spent - now we are squarely in an earnings driven period - likely 1,2 more Fed hikes - stick with techs generally and telecoms - somewhat likes drugs (Merck and J&J), and banks - goals for y2k: Dow 12,500 and Naz 5000 ------- me: the wicked challenging economic reads in the next few months are gonna be difficult... they will be offered by a slowing from the huge Y2K effect, offset by steamrolling non-computer techs generally (chips, media, telecom, biotech) the Fed is gonna overdo it because: - they always do, having to react to past data - the future is affecting by their actions - they are like mindless newbies buying the top - only they are slowing the past - expect a monumental stock rally to prove the Fed's errors - the whole world will send their money to the US markets - because the USdollar will get too strong many tough curve balls ahead you heard it here, jackass on QCOM: I see QCOM advancing for the rest of the week it has been awakening and watching a Naz Dance steadily it has not participated with many rallies then it goes and does its own thing it is set now to attack 150 it showed today it has little interest below 140 I would be more convinced of that if today were a bad Naz hair day QCOM is showing a nice channel now uptrending its lower boundary is now mid-130's we are ready to take out 150 the 140-160 range is the new one the 140 line is not so clear anymore it was extended to 145 when we pushed from below two weeks ago now it is being extended down to 135 as we push again now / Jim