MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.31

0.0%

Dec 26 4:00 PM EST

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To: el paradisio who wrote (53102)	6/5/2000 2:02:00 PM
From: American Spirit	Read Replies (3) of 99985

Don't bet against QCOM. It's down 70% from high. I've been buying it in mid 60's. Have an order in for 35 1/2 and doubt I will ever fill it. Shorts will give up and we'll probably end up back at 73. The China story was a scam in that it was made to look much worse than it is by the press. They gave it a negative spin when QCOM wins nomatter what. Besides, do you trust the communist press? I'd say INTC looks a little pricey but QCOM, MSFT and WCOM have room to move - up. And I don't see anyone selling INTC either. I predict we're over 4000 in a matter of days. Then you can think about a short-term pullback. But with techs traders in charge of the market this summer, earnings coming in July (usually strong for techs) I see a nice bumpy rally for the next 4-6 weeks. QCOM should be well over 100 by then because it's the only leader which hasn't taken part in the rally yet. I'd give it a strong buy here at 67.

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