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

To: Drew Williams who wrote (13266)	8/3/1998 9:33:00 PM
From: gdichaz	Respond to of 152472

Yes. BUT we are human. The "market" does not exist of course. What does is an eclectic collection of individual stocks which behave in some ways like a mob - an uncontrolled and uncontrollable mob. Emotion and waves of sentiment drive the waves up and down and each stock has to ride the waves. And program trading makes a difficult situation much much more difficult and volitile by definition. In this sort of situation, the Q is a fine example of a stock which is buffeted by the waves but ain't about the sink. Specific stocks such as the Q will fluctuate of course, but as long as the fundamentals hold (and IMO are improving starting right now with accelerating improvement through 1999 at least) beats waiting for Godo (or whoever that character was in the existentialist play) - the equivalent of cash on the sidelines. Prob is always when to jump back in if you are out. Very very difficult to time well. Been there, failed at that. Cheers. Chaz

To: Drew Williams who wrote (13266)	8/3/1998 9:44:00 PM
From: limtex	Read Replies (2) \| Respond to of 152472

Drew - This is just the market. The collective universe of those that buy stock in the major markets of the World DOW, NAZ, FTSE, CAC, SMI, DAX, NIKKEI, HKG. Forgetting the two major Asian markets for the others it looks as though any consistent buying interest is at an end. Why? Who knows but it clearly is and due to the bizarre attitude of the Japanese government it looks as though there is no end in sight to this downturn for at least two years and so what on earth is the point of remaining in any stock at all. I can just see some of the bright talking heads on Lou Dobbs or CNBC saying in a couple of months..... "...oh yes of course we went 100% cash in early August and anyone who stayed in at that time has suffered much more than if they had been with us!!!...." The Q is great and it certainly helps me thinking about its prospect over the next two/three years but the market might totally ignore those prospects and others and just re-adjust P/E ratios all round. Thus the Q will still lead the pack but with lets say a P/E of say 12 rather than what we have today. P/E of 12 may then be a high flying The thing about a bear market is that it seems to me that no-one actually says look here its arrived. The last thing the professional want to do is that because whereas in a bull market they have the edge due to they get better information more quickly when it comes to a bear market the odds seem to me to favour the indiviaual investor if he gets out a the first sign and that is just what the professional fund managers can't stand. Just MHO L