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Strategies & Market Trends : Options
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To: solihull who wrote (7054)4/29/2000 9:05:00 AM
From: Poet  Read Replies (2) of 8096
 
Hi solihull,

Very interesting TA take on QCOM, and one that's not so contrarian in the short term. The points made in that article about the recent action in the stock since reporting earnings, as well as the open interest in the May 110 options are dead-on, IMO. I watch QCOM like a hawk and trade it's options both long and short term. I've also noticed resistance building at the 110 level and have used it as a pivot point for writing covered calls this month.

QCOM has bounced off its 200 DMA at 92 1/2 twice recently and may well again if the market swoons due to interest rate worries. In my opinion, this is a good place for QCOM bulls (like myself) to purchase DIM 2002 LEAPs in order to keep their hand in the water while waiting out any intermediate term weakness.

Great article. Where'd you find it? Also, welcome to the thread.
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