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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 177.55+0.5%9:48 AM EST
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To: RoseCampion who wrote (45854)10/22/1999 11:44:00 PM
From: jewishcarpenter  Read Replies (4) of 152472
 
Rose, you need a fast course in biblespeak

my personal belief, based upon technicals and based upon timing is that we are within a few days of seeing the top.. we may have already seen it

unless we hear something of immense importance, something beyond the large built-in factors, we shall not witness much higher highs

it is a small dilemma.. sell while the selling is good.. option holders who want to "see" the earnings while at risk run IMO a 90% chance of losing value on options

I would tend to believe the upside potential from buying reduced value shares and options in the next four weeks greatly outweighs the upside potential of continued appreciation above say 220.. in addition, just after earnings, I plan to write covered calls against some of my growing core position

I too hold a few Nov calls still.. sold off about 2/3 of them at 223-224.. looking for any print of 222 for my final exit

now I am planning to come like a thief in the night and abscond with something rich in potential value before Thanksgiving.. then I will surely give thanks

three effects are just around the corner:
- post earnings selloff (mild)
- Fed FOMC on Nov16 (ditto of last two weeks)
- climax of y2k fears (unknown strength)

these three effects will act out like three shouts at the Walls of Jericho.. I do expect some pillars to fall, but QCOM only a couple support levels

I am getting my treasured haunches out of the way.. trying to look in risk/reward terms

/ Carpenter
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