Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: marginmike who wrote (88241)	3/31/2001 11:41:52 AM
From: JRI	Read Replies (2) of 436258

MM- Thanks for your thoughts....I see additional problems, though.. (1) Ton of overhead supply from 60-70...the stock will not easily go thru that....and will likely have to "bump" head at resistance many times (2) The chart looks really bad, I think....where is the bottom now? The saucer bottom (last year) was a beautiful one, and I played it long for a little while...but all that "good" work destroyed when it morphed in huge H&S at end of year...and, not surprisingly, broke hard to downside..I am open to a positive intrepretation of the chart though, but I don't see it... (3) Qcom has yet to lower any earnings estimates (as far as I can tell)....do it seem reasonable that Qcom can get thru his unscathed? Qcom's NOT part of the same supply chain that affects everyone else? (4) I agree that 35 may be the downside for Q, but, in my mind, getting to 35 before 75 makes a lot of sense....a lot less resistance going to 35 vs. 75...therefore, I like the short-side of that bet..at a minimum, a test of the recent low would seem in order..

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