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

To: Uncle Frank who wrote (43635)	10/7/1999 8:53:00 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 152472

on TA.. some wider thoughts, nothing very different to reveal an appetizer: my best call of the week "GC will buy back 10 points higher" made on Tuesday at 193 PRESENT PROBOSCIS, ENDURE FLICK, thank you very much Nasdaq is in clear uptrend, after recovering in last six weeks from a nasty shorterm early August tumble.. its relative strength is building above 50% but not into overbought zones.. its moving averages seem to be providing support from below.. clearly the market leaders are techs (a nobrainer) S&P is treading water.. still trying to regain its sealegs after the same nasty shorterm early August tumble.. its relative strength is rebuilding from low levels and now is only at 50%.. moving averages seem to be serving as resistance.. lets see if another few good days can push it above the MA's Treasury Bond yield rose slightly again yesterday.. but it appears to me that it has just completed a puney little momentum swing off the last two weeks.. yield got below 6.0% then thought twice about it, pushed back up.. lows then are about equidistant from highs now, compared to the 6.05% equilibrium level evident.. I sense a Head&Shoulder pattern with two June highs around 6.2% and a few Sept highs around 6.1% next to yday's high of almost 6.2%.. in the midst of these lies the August impulse high of 6.25%.. we may be at the right shoulder failure now.. this portends a bond yield gradual decline, encouraged by weak relative strength (compared to the world of credit markets -- govt, corporate, shortend, longend) main course QCOM: a textbook breakout from a Head&Shoulders using a scout swing move.. with afternoon session pullback to 203, we may have seen most of the smallhand (moronic) profitaking from the breakout recoil.. shorterm RSI indicates the sag yday was noted but not overdone without much mustard surrendered.. nearterm RSI is around 65% which allows some serious mofo legs to stretch out.. the toes dipped into the water yday, and now time to dive HEADLONG.. agree with Voltaire about a large couple uplegs imminently with deep participation by bighouses.. H&S target of 225 is consistent with another "channel" view.. May, July, August peaks extend into early October at around 220-230 on upper end.. its southern exposure points to 185-195 one of my favorite guys was on CNBC this morning, Roger McNamee (on my list VoltMan).. he said something like "growth in the tech sector has shifted from PC's to communications, comm chips are experiencing rapid growth now in several areas, I like PMCSierra and Broadcom".. oh well, maybe next time a plug from someone intelligent keys are longbond yield coming down, S&P getting up another 50 pts north of moving averages, and lastly Dow showing signs of independence from a respirator.. techs need the supporting cast to cooperate, or else Naz approaching 2900 will be rebuffed "SHOW ME LEGS", the drooling wide-eyed man barked at the stage railing / Jim Willie