TA on QCOM: just briefly... downside broken
all moving averages I follow
18day MA for shorterm
30day MA for nearterm
50day MA for semi-longterm
all MA's today were broken on upside, but this is early
volume was magnificent, a resounding signal, 40 million shares
volume today equaled the entire first four days this week !!!
notice how at end of day, we slid back to 136
the 18day MA is about 134, right where I just saw us afterhours
today was a LOUD cover rally, LOUD warning, very LOUD
rotation within tech sector now to begin in earnest
all three critical MA's now are tracking together, fully aligned
look for low 130's to serve as new support possibly
I think so almost as much as I hope so
days like today are precisely why ...
I DO NOT WRITE CALLS ON THE LOW END OF OUR CURRENT RANGE
sorry, Volt, writing Qcalls at low end of 125-140 is a mistake
with all respect, I disagree
so often your written calls go straight to the bank, or garden
but writing calls in the 120's is a big mistake IMHO
if you miss the chance to write them at high end 138-145
then wait until the next opportunity, like Monday morn
our upchannel, weak as it is, remains intact
from lateJan at 110, to midFeb at 121, to this week at 128
our base is intact, a nice foundation for this spring
I might write calls on QCOM on Monday before noon
strike price of 140 or 145 for March expiry
90 minutes does not fully break a downtrend
but with any continuation early next week, dont worry about a breakdown to 110 for now
at earnings announcement, who knows?
that GlobalShit reported miss of $100m troubles me
anybody know how specifically that translates to eps?
appreciate accurate response
/ Jim Willie |
