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To: AllansAlias who wrote (47674)	7/26/2002 7:23:03 AM
From: marginmike	Respond to of 209892

Ok heres my take, and I am going to get slack here. My take is the markets look like they are setting up for a sustained bounce. I know there are H&S and breakdowns everywhere, but I will ignore because the fact is things always look misrable at the bottom. DO I think there are segements that are still ridiculously overvalued, yes, but I also see alot of VERY cheap stocks. The fact is that sentiment and overall bearishness is way overdone, and the rally the other day and retesting yesterday and today will clinch my opinion. The Huge volumes as we bounce of the bottom is indicitive of a buying spot, not a selling spot. The VIX is also suportive of a ST-MT bullish position. I know everyone hates pro-forma stuff but Qcom Absolutly blew the cover off the ball. They have next quarter 95% Booked and have shortages of phones. Qcom not Unlike SUNW and SEBL has pretty honest management and I believe them. If this is true then this should put a floor on one area of tech. The banks seemed to have bounced and yesterdays action depicts that they are also sold out, IMHO. My guess is we are done going down for now. I will say if Qcom news today gets sold, I will definetly re-consider.