Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 138.47

-1.8%

3:59 PM EST

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To: limtex who wrote (109999)	12/29/2001 10:00:26 AM
From: marginmike	Read Replies (1) of 152472

I said a year ago that I believed that Qcom is in the same pattern as 96-99. A huge trading range between 38-62 almost earily similear. My belief is Qcom will see mid 40's before it rallies back into 50's, could even test the lows. I dont forcee Qcom from droping much below 42-44 unless things get real ugly. After looking at many individual charts it seems that a 5-10% drop in Naz/sox will ocur in 1Q then we should have a good 10-20% rally after that I have no clue what will happen. The Bear will either end or the last horrific leg down will begin. If you look at MSFT as a leader of this market then look at SMH/SOX/QQQ/QCOM and other leaders a reverse H&S is takinging place. Qcom could go to at least 48 at worst low 40's after that should be pretty good. I am currently short the QQQ's and SMH(semi-holders). I was long oil and index oil calls until friday. I have no long exposure, but will buy qcom at 45(if it gets there.

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