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

To: kech who wrote (15894)	10/2/1998 9:08:00 AM
From: Jim Lurgio	Respond to of 152472

3-g comments wirelessweek.com

To: kech who wrote (15894)	10/2/1998 9:27:00 AM
From: 2brasil	Read Replies (1) \| Respond to of 152472

=======ot ray john But all is not lost. In fact, when I see panic selling in the market like this, I actually start to get bullish again! :-) After all, you don't make money in the market by buying when everyone else is, so it only follows that the best time to buy is when everyone else is selling. But not just selling... we want to see selling at ridiculously low prices! Selling in a panic... selling in a fear gripping state of irrationally unclear thinking :-) haha... That's what we like to see! And 9 times out of 10, that's also the best time to buy. Why? Because that's generally when true capitulation takes place; during a selling climax. That's also what it takes to form a decent bottom in a market. And as far as a possible bottom goes, a re-test of 7400 levels (or around that level) in the Dow (which we are getting close to now), and then a turn around from that level, would be very bullish for the market right now. Not only would a move down to these levels (and a rebound) indicate capitulation by investors, but it could also help form a double bottom in the markets (specifically the Dow index) which would be a bullish pattern. Along these same lines, I think one of the things the market is looking for most right now (in order to help signal a firm and solid bottom) is a little further "dumping" of the bluer chip names, such as DELL, CSCO, INTC, etc. In a nut shell, when investors are willing to bail out of even such high quality names as these, regardless of the price, then (in most cases) you are looking at what is probably a near term bottom. In fact, we probably saw some of this type of selling on Thursday (and profited from it by going short). However, a little more selling and fear in the market may be needed to really wash things out enough to produce a rally. So, is the selling near an end? Hard to say. However, I would be surprised to see the market spend too much time below 7000 just yet. A rebound around the corner? Maybe... ray johns