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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: uclatrader who wrote (21377)	7/29/1999 8:39:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Shuo, i'd consider shorting it if and when it turns down again. as LG has pointed out, it has formed a small rising wedge in recent sessions that was apparently negated yesterday. therefore another leg up in QCOM is not out of the question; however, if and when it starts to correct it should make for a very profitable trade. so best use a stop in case it resumes it's run and re-initiate your short position when the move starts to exhaust. if it continues to correct from here, watch for the 120 support level as an area to cover if it holds. regards, hb