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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: mph who wrote (4484)1/5/2000 7:59:00 PM
From: Ms. X  Read Replies (1) of 9427
 
Well,

I don't know about puts....

Looking at the close price it will put some X's on the chart tomorrow, unless it moves down to 138. So, if it puts X's on the chart support is at 140. This is what I was talking about yesterday. The sell off created new support levels that were needed badly for some charts.
The RS for QCOM is still in X's, this is the first sell signal in a very convincing up trend.... I don't think puts are a good idea. I think once this silliness is over QCOM will resume up ward.

Now, if it creates the X's and then breaks the new support that would be a second sell signal and negativity for QCOM.

It's too early right now to tell. But if I were to guess, which I don't do of course :-), I'd say QCOM has a much higher chance of going up than down.
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