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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: DayTraderKidd who wrote (69150)11/2/1999 11:32:00 AM
From: Jenna  Read Replies (2) of 120523
 
QCOM reacted as I suspected, no move one way or another. Overbought, at resistance needs some breathing room. Too expensive to risk, might take a small call position near close of trading if it closes at high end of its trading range, otherwise I'll pass. After earning if it gaps up I'll wait. If QCOM gaps down tomorrow wait until it does in fact gap and put in a buy stop at high of the gap at the end of the day if the gap remains unfilled and keep in place until cancelled. Of course all this is only if the gaps DON'T get filled. If they do get filled, treat QCOM with regular gap strategies.

If QCOM gaps up I'd put in a sell short at the high of the gap, all on condition that the gap doesn't fill. Because the likelihood of a gap up and/or down would be to fill in the next few days.
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