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Strategies & Market Trends : NetCurrents NTCS

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To: Teresa Lo who started this subject	11/19/2000 11:37:09 AM
From: rmontieth	of 8925

QCOM.......OJ, Mikew, et al After a few days with Teresa, our fearless mom, I am looking at various charts with a new perspective. What is your analysis of QCOM on the daily? Overall trend on monthly and weekly is down, daily up. 200EMA provides immediate resistance. Would you draw the horizontal lines at 87 and 63 1/8 for the 1-2-3? If so, then we had a successful 2B bottom and are now in a 2B test of top, right? Friday was an inside day. From a risk/reward standpoint, if the low from Friday is taken out and you went short from around 84.5 the first target is the 20ema at 76, the risk would be the top of the bar (+ 1 tick)and the reward would be about 8 points from here. Would you pass on the trade unless the risk is 4 points or less? Any other observations on this chart. (I have no position in QCOM.) thanks

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