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

To: marginmike who wrote (77957)	7/27/2000 10:34:45 AM
From: limtex	Respond to of 152472

mm Its summer again and IMHO NAZ likley to get spanked four out of five days for the next six weeks. Never mind nothing to do but sit back and tkae the daily haircut. Two weeks or so before the next end of qtr likely to pick up again and then a good three or four months. The problem this time is that many people now see the writing on the wall as this is the last of the magnificent bull market, the greatest bull market in history and people will get used to 6% -8% growth instread of the 20% or more that everyone got used to. Seems to me that the market is just looking for any excuse to tank and now they've got some reasons. Yuo can almost feel the contraction of P/Es as company after company with great earnings gets taken outside and shot. Hear the groans of incredulity on the threads all over SI as this happens. Nothign wrong with the companies just the sound of the smart moeny slowly leaving the market without creating a panic so that they get out before the music stops. The odd company that gets a little ahead will find itself subject to nasty comments by analysts or unpleasant articles in the financial press. Those of us who make the mistake of falling in love with a technology or a company will likely be sorry even long term as there is no defence against a wholesale retreat of cash from the market. The pressure just relentlesly reduces and you get what we now have which is a sickening daily drop of 50 - 150pts. Ah well. The Qs technology is still great and I can't wait to see next year. Best regards, L