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Non-Tech : Raptor's Den
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To: marginmike who wrote (7895)2/13/2003 10:04:30 PM
From: velociraptor_  Read Replies (3) of 10157
 
That's almost an 8% rally in MSFT off the low and would correspond to about 8200 on the DOW. I doubt this index can make it back to 8000 at ths point and has little strength to do so with all the charts breaking down. I think delta hedging is going to be the name of the game for this expiration period.

QCOM broke out of a triangle pattern after a top side overthrow that failed. The downward break came on a volume spike with heavy selling. If it's lucky, it might make a test of the triangle break at 36 to 36 1/2. It has some support near 32 1/2 but 30 is more likely to be met before it can muster a decent bounce. below that comes 23-25.
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