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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 692.12

-0.3%

Feb 10 4:00 PM EST

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To: Clint E. who wrote (20355)	3/25/1999 3:44:00 PM
From: Johnny Canuck	Read Replies (1) of 70673

Hi Clint, Incredible volume and price movements on ADCT and QCOM today. I can't find any news on ADCT. I am not too impressed with QCOM's conference call. There is still lot of near term risk. ERICY does not plan to ship CDMA phones till next year. QCOM loses a money losing business sector. Revenues are affect negatively so Q-Q and Y-Y comparison will not be possible. It looks like they keep their handset and ASIC R&D divisions. This might affect QCOM's relationship with NT as ERICY is now a competitor on the infrastructure side. NT has been planning on making their own ASIC's anyway though.The 3G fight is still not resolved though. I finally sold a portion of my QCOM position since it is within spitting distance of my target for the year. Boy, this is tough way to get 46 points. I have held though some pretty big volatility. Momentum might get QCOM another 15 points, but I don't like the market conditions right now. Quarterly window dressing should be over soon. I will look to buy it back lower down. Harry

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