To: waverider who wrote (72052 ) 5/21/2000 6:00:00 PM From: marginmike Read Replies (2) | Respond to
Diamond the stress is starting to show. You were very critical of me for taking a profit and taiking the safe route. You pointed out tax implications, and yada yada. You passed the opinion that QCOM can only go up long term. You are a hypocrit, you encouraged people to buy the stock at 120,110,105. BUY the dip you just said. I have posted quite acuratly that the market was way overvalued, it had nothing to do with TA. You critisize Skeeter and LG whom are excellent SI contributors. I guess anyone who disagrees with you is wrong. Anyone who is negative is reckless? However if they are long and encouraging people to buy stocks at the top of a mania thats OK? If you read my last post on QRTS I expressed my belief that Qcom's fundimentals have never been better, and that the stock price is not an indication of anything being wrong.HOWEVER I have no way pricing QCOM in a market which is itself re-evaluating ridiculous earnings to price ratio's. Is QCOM hit a bottom? I have no idea, has the market? I have no idea. I do know that only an IDIOT would try to catch a bottom of a 1000pt Knife that is falling from the empirestatebuilding. I am just telling people to be cautious, not use Margin and take the capital preservation route. The US market has topped out on several times as it just had. In 1966,1929 and in the NEKEI in 1989 the market didnt come back for ten years or more. I am not saying this is what is going to happen, and I really hope it doesnt because I have many friends who would be destroyed, as well as an economicly sensative business. However just as the market has bottomed, there is a chance that it could get far worse. It is reality and after the MANIA it wouldnt surprise me. I will buY Q on weakness tomorrow in anyregard for the long term and hedge my bearish view. I was not the one who made comments like"now Marginmike missed his chance to buy in cheap" and the stream of critisicm you shot my way. GROW UP if you are going to dish it out you better learn to take it. By the way I am no fear monger I have advised people publicly and privatly to end Margin and take some cash out. I recomended people to keep capital preservation as their main goal in this viscious market. I think that was alot more responsible then mocking people who didnt run into any rally and buy whille QCOM has obviously in a downtrend. That downtrend will bounce around 82-86 area. I will buy at that point with a 78 stop loss. I hope that will be it. I will comit maybee 5-8% of my 100% cash position. I think the market will bounce hard tomorrow pm, but its just MY opinion. If the selling continues confidence and the economy will be irrevocably harmed and NAZ WILL go much lower. The fact that you think QCOM wont go lower is almost humerous. I think QCOM is a GREAT COMPANY and its realitive value to many techs is cheap, HOWEVER it is still selling at 80-90PE. That is very high historicly, and if market continues to reavaluate PE's it may go lower. THe PNTR vote is by nomeans a done deal, from what I hear it will be a nalebighter. If it doesnt pass Q will get slammed again(if thats not why its already down). In any regards I will lay off you if you stop ridiculing anyone who disagrees with you. If not I will be your shadow.
