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

To: Uncle Frank who wrote (75437)	7/6/2000 1:09:20 AM
From: techguerrilla	Read Replies (1) \| Respond to of 152472

Holding Qualcomm now presents problems . . . . for everyone who bought after last October. It is a lot easier for people to hold Qualcomm when their cost bases are $10. Anyone who bought late, used margin, used credit cards to buy in the first place, or all of the above is cooked. I want to own Qualcomm because of my profound belief in the company. But I violated all of the above rules. (Damn me! I was not wealthy.) There comes a time where reality of downside risks, particularly if there's an earnings miss, simply command exiting the stock to avoid going broke. Using credit cards to buy in was SO tempting. Using margin for leverage was SO tempting. Who would have ever dreamed that the company's market cap would undergo a complete reevaluation. This is not a correction. Shorts are actually pounding the stock into oblivion. I'm not sure the company plans news releases this month or next month, for that matter, to protect the stock from further shorting and putting. This has become the manipulated stock of the ages. Holding it has become economically dangerous. It pisses me off because I have such profound belief in the company's fundamentals. Something else that bewilders me is this nonsense about the need to slow down the economy. How utterly preposterous. The fallout is that people who entered Qualcomm late and had the gaul to borrow their way into the stock market are the primary victims of the Fed's irrational policies that revealed Qualcomm's speculative bubble. The CNBC cheerleaders have turned Qualcomm's situation into an "action movie." Pardon my rant. It wasn't aimed at you Frank. It was aimed Greenspan, Clinton, Gore, Bush, and, of course, NOKIA! <ggg> Keeping my sense of humor during this time of hideousness. - john - P.S. Ron Insana says on CNBC right now that "the individual investor is keeping his counter dry and looking for a good buying opportunity." He assumes any of us have any money left after disasters like this. Individual investors like me are looking for a job. We don't have any money to invest in the market. How many people have been bankrupted by the market this year? How many people who bought Qualcomm after October of last year have been ruined? Seriously. Ruined.