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To: marginmike who wrote (84754)3/23/2001 4:31:00 PM
From: Tom M  Read Replies (1) | Respond to of 436258
 
I wasn't looking at the short term H&S but rather looking at all the air under about $50 when you look at the 2 yr or 5yr chart. For my taste, I don't think of its current 8.5x book value much of a bottom for a bear market. I tend to think of qcom-type valuations as holders for new paradigm counterfeit money. When margin induced churning takes over one of these, my bearish estimates have usually been way too bullish.


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