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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (23097)12/8/2004 4:05:17 PM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
Wish I could remember which technician it was who called for QCOM to go to 1,000 when it hit 400

that was Walt Piecyk of Paine Weber, trying to pull a Henry Blodget. QCOM went up like 125 points that day, and i was long QCOM calls with 100% of my money. my best day ever in the market, so i have a soft spot for Walt -g-.

btw, over the month following Piecyk's call, QCOM doubled to 800 (equivalent to 100 now after splits). i heard that some market makers had trouble due to all the calls sold at around the 400 mark.
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