Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Smart_Money who wrote (2434)	1/19/2001 4:50:31 PM
From: Jenna	Read Replies (2) of 6445

QCOM Here's where I don't agree. We mentioned the chart of QCOM looked like disaster de jour now and even for a short its just sinking back to the year's low. Chart is a breakout of a descending triangle to the downside if it takes out 69 and than 67 3/4, which I expect it to. At this point QCOM has a stochastic read of 11, I have no position in QCOM its hard to short because of its deterioration so I just leave it. If QCOM takes out overhead resistance of 78 1/2 it might move a bit. QCOM will have its time, wireless is here to stay, but not now.

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