Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 176.00

+0.4%

3:59 PM EST

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To: Jim Willie CB who wrote (44212)	10/11/1999 11:32:00 PM
From: The Reaper	of 152472

OK here goes- I am a very infrequent poster here because most of the time anything that I've been thinking usually comes up by the time I get around to posting. But....... I think everyone will agree that the market is a psychological animal more than a logical animal. If that is the case, and I believe that it is, (just take a look at the reactions to these asinine downgrades and offhand comments e.g. Ballmer and Everen analyst) TA is a look into the psychology of human behavior. Everybody should reflect on their own feelings during the times of duress to validate the emotions that take hold during those times. These chart patterns show up and are given these crazy names, but they have merit. QCOM has been almost a textbook case of TA. JWCB even mentioned it already that QCOM seems to be the easiest stock to predict that he has ever dealt with. When Q! breaks out from a previous high, its measured move up is almost perfectly coincidental to its previous retracement. It almost becomes a self-fulfilling prophecy that Q! will stop where it does when it makes one of its patented runs, but the fact is that it does stop where it's supposed to according to TA and I believe that it is the psychology that is running these patterns. In the end, earnings will dictate where Q! goes but the psychology, as shown with the chart, is going to dictate the short term fluctuations. It's no accident that these downgrades/comments come right around the time that Q! has approached these certain price levels. Let the flames begin! kirby

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