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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (38941)	8/28/1999 11:33:00 PM
From: John O Dea	Read Replies (2) \| Respond to of 152472

The Q is in a rising channel and every day the support and resistance on the channel changes because they are rising with our stocks uptrend. On Thursday the upper channel line was penetrated and the stock closed below the resistance line. This gave a short term correction signal to traders. The channel is about 40 points wide, but remember it is always rising. top side 192-down side 151. The numbers change every day but the spread is constant. If we get a full correction, when it hits the downside line, we should have a classic Q reversal. When I picked up the sell signal on Thurs. I wrote some Sept 180 calls @ 19 1/2 to partially hedge myself for a little rough sailing. I have never posted before and make my living as a TA..

To: MileHigh who wrote (38941)	8/29/1999 10:55:00 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 152472

Mile High, sorry to appear smug.. I sound smug and appear smug basically because at times I am smug.. but long in the tooth, so dont expect much change you may be right about touching 50day MA.. I disagree mainly because we are midstream into the quarter with four weeks to go.. it seems QCOM trades strong for the two months closing a quarter.. do you think it might be different this qtr since this ends the fiscal year? .. and then possibly so much time to wait for Nov 3rd earning report for full FY? .. maybe QCOM got ahead of itself on the qtrly pace since early August? I realize the 50MA has been touched a few times.. correct me if wrong, but arent these events immediately at or following earnings announcements? / jim