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Strategies & Market Trends : TA- Advanced GET

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To: Allan Harris who wrote (1392)	8/17/1999 9:02:00 PM
From: Allan Harris	Read Replies (1) of 1551

QCOM What now? There are reasons to move the stop up on the new Long trading position taken at about 150 or so: 1. If you set the wave count on Original you get a classic set up for a Type #2 SELL. Five waves up and divergence on the 5/35 oscillator. All that it needs is a break of the regression channel up from the August 5 low. That would come at about 150 now, moving up a bit each day. 2. A 61.8% retracement of the move up from 136 to 174 comes in right at 150. 3. A MOB drawn from the July 20 wave 3 high hits right at today's high. For all of the above reasons, I think the stop should be moved up to any close under 150. A

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