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

To: marginmike who wrote (109879)	12/24/2001 4:44:50 PM
From: limtex	Read Replies (1) \| Respond to of 152472

mm- OK I'm now an official bear. You were right and so was Luc and especailly Earlie. There is no recovery. The consumers and the corporations are maxed out and the Japanese are in full depression and they know it and the Europeans are about to be but they don't! As for this crap about a 2Q recovery it is unsubstantiated crap. There are a couple of companies with a good chance. I have to believe in the Q and possibly PXLW but as for the rest take JNPR, CSCO, BRCM etc. These companies are imho not going to exactly perform this year or indeed any year as far as the eye can see. It's over and thats that. Sure we will hear stories about Q2 and Q3 and Q4 and then 2003 when all the Qs this year turn out to be dissapointments. The NAZ is behaving like it did all through the two year crash and it is continuing relentlessly. And why should it not? Why should companies enjoy P/Es in the 20s or above when their business is either not growing ( at best) or in most cases actually declining. OK it took me two years to become a convert and I am a very reluctant convert but after a time you have to say that month after month, year after year of unending misery, enough is enough. I never thought I would say this but shorting can be fun. Why not have targets for say CIEN of say $10, ie down instead of up and BRCM of say $20 or INTC even of $22 instead of up. Mr G and the Treasury Sec want unemployment by the millions and so who are we to fight them? As far as the Q is concerned well it might have been better had PCS gone live in October what I thought they were supposed to. Has that happened then the resulting growth in revenues/earnings would ahve been in this year rather than next year. As it turns out the growth will be next year but that is likely to coincide with another downward lurch in the NAZ as more people throw in the towel and so we might see the Q in the $20s. Sounds crazy but there is clearly something going on with the stock which is down again after hours back in the Natural Home. Meantime a Merry Christmas and A Happy New Year. Best, L Best, L