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Non-Tech : The Critical Investing Workshop

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To: pinhi who wrote (13805)4/15/2000 8:01:00 PM
From: Jim Willie CB  Read Replies (1) of 35685
 
TA double bottom on QCOM, strong support for several reasons

Thanksgiving 100 resistance, later January 100 support, now April 100 support
January institution support at 100
psychological value of 100
imagine all the buy orders lined up at low 100's, and 99

but as Ruffian astutely pointed out to me,
it dont mean diddly if sellers swamp the scene
if QCOM survives until temporary chaos ends, 100 will hold

agree with Allan Harris's Eliott Wave conclusions
100 then 80 are major support levels

really dont understand the talking head claims that "not enough fear has entered the market"
I sense fear all over the place
I sense shock
I sense extreme pessimism and doubt and defeat
I observe three month's worth of effects in two weeks

thank the Lord for a weekend
I expect immediate response to margin calls
I expect eventual catch by Houses

not even worth two cents
/ JW
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