Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: Pierre who wrote (28592)	9/24/2001 1:50:47 PM
From: Steve Lee	Read Replies (4) of 30051

Shorted QCOM last week based on being near the top of its downtrend channel (started Aug 27), and being overvalued. Would have covered this morning as it is now arguably above the channel, depending on how you draw it. However it is a small posn hence letting it ride. More concerned about my short of the NDX futures. I opened that in the premarkte when it was up just over 3%. Not hit the pain threshold yet. INTC is concerning and may have bottomed but I think the MSFT bounce is ill fated.

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