Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 163.33

-1.0%

Nov 25 3:59 PM EST

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To: RoseCampion who wrote (44050)	10/11/1999 11:05:00 AM
From: Jim Willie CB	Read Replies (6) of 152472

ELLIOTT WAVES ARE HERE , my favorite TA pattern as QCOM broke above its resistance at 198, it entered uncharted soil again... a common pattern manifested for moves into ground without any history of heavy buying or selling at turns is the Elliott Wave... we saw them last in April an Elliott Wave pattern is characterized by a breakout first leg, followed by a larger second leg about 50-60% larger than the first leg... then after a reasonably sized pullback, a third leg equal in length to the first leg I sold my Q option calls when we hit 224 since the pullback after the second breakout leg is the biggest... I hope to re-enter soon first leg: 198 to 208 (10 pts) second leg: 208 to 224 (16 pts) upcoming third leg: 224 to 234 ??? (10 pts?) I expect a pullback to the 214-218 region, followed by a strong move to 234 my mid-September target of 225 came within a hair this morning DID YOU CATCH THAT, MOLLOY? / Jim Willie

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