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

To: Maurice Winn who wrote (5068)	10/29/1997 7:10:00 AM
From: JGoren	Read Replies (1) \| Respond to of 152472

My personal market analysis. QCOM closed Friday and opened Monday at 59.25. Then Monday's debacle; it closed at 54.5 with volume not much higher than the average trading volume. Tuesday, it dropped to 52 and then exploded on 2X avg. volume, and it closed at 59-3/8--an eighth of a point above where it started before the panic. This was pretty much the pattern in everything I own. I didn't make anything but didn't lose anything. Maybe, if I were a trader, I could have made a bundle but I am not that kind of risk taker. The best thing that can be said is that there were fewer panic sellers on Monday than buyers on Tuesday. Unlike my holdings, the Holy DOW only got back 60% of its Monday loss; it would be interesting to see an analysis of where the real losses were. It seems to me that in the panic everything got hit hard but on the next day those stocks that had not merited a "correction" were reevaluated as cheap. Seems like the individual investors may this time have outsmarted the professionals, who unloaded their portfolios because the computer told them to. On the other hand, it did take twice the volume to get back to where we started. BTW, I have heard about all I want to on the Global Village. Maybe Hillary ought to come out with a new book, this time on investing, "It Takes a Village."