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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (2805)	9/21/2000 7:47:18 PM
From: abuelita	Read Replies (1) \| Respond to of 65232

Ignorant, I understand; Stupid, I also understand; Naive, I definitely understand. But "psychologically ignorant" ... that one escapes me.

To: Voltaire who wrote (2805)	9/21/2000 7:47:21 PM
From: imdchamps	Read Replies (1) \| Respond to of 65232

Hi V man, Glad to see you hanging out. I caught the BUS and saw the porch. Was thinking of selling some in the money calls to buy at the money leaps. Am having a learning experience from writing the covered calls with lots of fear and greed thrown in. Wrote atm ebay, ntap, itwo on Friday to see them go itm on Mon-Tues, back to atm today and maybe far otm by Friday. Having fun but boy what a ride. I have to learn over and over and over again to stay in the present. Love your attitude, I see the BUS is leaving...Best to Dealer Don C

To: Voltaire who wrote (2805)	9/21/2000 7:55:42 PM
From: Sully-	Respond to of 65232

From: Ruffian on the Buy Range Thursday, Sep 21, 2000 7:35 PM ET Subject: THE BULL MARKET WIRELESS INVESTOR, Wednesday, September 20, 2000 3. THE CHINA SYNDROME -- QUALCOMM by Don Sherwood The Financial Times quoted Wu Jichuan, minister of information industry, as saying last week that China "must introduce and adopt narrowband CDMA IS 95. This is a necessity. There have been many views expressed in the media, but the more that is said, the more confused people become." In addition, the article mentioned that Zhu Rongji, the Premier, had personally ordered the rapid development of CDMA equipment by domestic companies. As a result of the good news, Qualcomm (QCOM, $78) rose more than 5% to $61, and has been on a tear ever since. Qualcomm has traded up and down on news from China since June 5 when China Unicom said it would not adopt CDMA. Since then , however, conflicting reports of CDMA adoption have dazed and confused investors and politicians alike. But a lot of this confusion appears to be fading away, and the stock is benefiting from that fact. COMMENT: It may be in China's best interest to express enthusiasm over CDMA, especially with Congress talking about permanent trade relations status. But the minister's announcement signals the end of the positioning and negotiations phase, and moves the country into the adoption and implementation stage. CDMA offers many advantages over TDMA primarily because it is intended for data and it allows more bandwidth (in a limited spectrum). The buying opportunity is ending for Qualcomm. With an expected 36% long-term growth rate (look for upward revisions here) and a PE of about 60, the PE-to-Growth ratio (PEG) of 1.67 is pretty cheap when compared to most high tech stocks. If the China confusion gets resolved by the end of year, expect analysts to upgrade and revise growth estimates. We see Qualcomm trading at a 2.5 to 3.0 PEG in 2001, which translates into a $125 to $150 share price. Message 14430162 Ö¿Ö