Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: David E. Taylor who wrote (113224)	2/13/2002 8:47:16 PM
From: Caxton Rhodes	Read Replies (2) of 152472

David: I would call it a giant falling wedge, which would be bullish. What determines a wedge is its noticeable slant. The slant is against the prevailing trend, therefore a falling wedge is bullish. However the wedge formation typically lasts from 1 to 3 months, not two years, according to Murphy's book from which I quoted above. However, we were in the midst of a bubble, so maybe it should be called a "bubble burst falling wedge" (BBFW) ;-). It does culminate in the low 20s in the October time frame. I am hoping that tomorrow is the beginning of the run that tests, and eventually breaks that wedge. The sell-off on Friday with over 50M shares traded, I think was capitulation. Cheers, Caxton

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