>This gc is a blast! I say over and over again, we have >held the 50 day MA again on every pullback, for now. He >keeps saying the charts looks horrible, it looks beautiful >as long as we hold 50 day MA. CSCO, MSFT and IBM don't >even look as nice.
>I wish he would at least explain why he thinks the chart >looks so bad. I will disagree but we will have some sort >of reasoning behind his comments, besides, "I am short, I >am short" LOL!!
>>>>>>>
Milehigh,
You are absolutely right, as long as it holds its 50 day MA (which is also where its uptrendline happens to be) it should be ok.
I am a little concerned about that large drop on 8/31. If you pop up the chart, you will see a giant volume spike on that day. And if you take a look at the other leaders...say CSCO, MSFT, INTC, IBM, etc. etc, you will not see any such spike. In anycase, I am concerned that it may have some trouble maintaining upside momentum at this point. After all, its had a hell of a run without a whole lot of rest. If its going to maintain its uptrend, it has to be around here.
Other then that, should represent just a short term blip in Qualcomm's long term dominance in the CDMA market. I wonder if this would fit the catagory of a gorrilla like Microsoft, Intel, or Cisco now?
Jason Kim
sonicspin.com |
