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

To: Uncle Frank who wrote (106811)	10/11/2001 2:20:22 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 152472

Sold some QCOM at 50.1 today. This was the lot I had earlier bought at 50. Still holding the lots I bought at 45 and 40. On 9/10, I was 40% cash. By 10/5, I was 40% margin. (too too much) As of now, I am down to 7% margin. I've sold my higher-cost stocks and LEAPs in my buy-list of equities (at slight profits or losses), and am now holding stock, and 800 contracts of 2004 calls in my favorite quality techs, bought at prices right at (or fractionally above) their yearly (multi-year, actually) lows. It was a huge gamble, and I won big. With my deleveraging, I can now buy more QCOM, at 35. Next sell target for QCOM is 65, but I doubt we get there, this year. If I sell at 65, then I'll start buying back at 40 (retest of previous lows). This bear market isn't over. Remember, we've seen 3 50% rallies in the SOX in this bear market, and all 3 of them went on to much lower lows. If the SOX makes another 50% rally, I'll be back to 20-40% cash.