MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.66

-0.1%

Jan 16 4:00 PM EST

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To: waverider who wrote (73427)	3/28/2001 1:05:35 AM
From: JRI	Read Replies (1) of 99985

I would wait until it clears all of that resistance formed with the saucer bottom (months of resistance....holders of stock....looking to get back even)... If it successfully does that, then stock should be OK.....however, note....given I am not too positive on the overall market thru summer...I am also not so positive on Qualcomm either....Let's say Qualcomm can get to $ 90 from here....are you comfortable holding a stock at 15-20x+ revenues...almost nothing else, certainly not big-cap in tech is valued at such levels anymore......IMO, those valuation gone forever.. Good luck...solicit a lot of opinions on this one...

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