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

To: phatbstrd who wrote (44367)	10/12/1999 4:38:00 PM
From: Jim Willie CB	Respond to of 152472

I sense a runup in three legs... has happened many times before... a first leg in breakout... a second longer leg with the public falling in line... then a profitaking session for a couple days, since money is sitting out there... then a third upleg since the fundamental story is still huge remember no prior history with breakouts... we are in one now that is what Elliott Wave tends to govern not always though, check July runup and August runup each occurred with many little legs whether we endure profitaking two days or five days, who knows? check April for a primmer... we went up huge to 155 on the second upleg, then pulled back almost 20 points... all that before topping at 188 on a strong final third leg... the little pullback after second leg provides momentum for the final upleg (NICE) we are enduring the pullback after the second upleg NOW I suspect a strong correction after earnings... it typically happens in two strong downlegs... we may get a sizeable correction prior to QCOM earnings, since most techs report before we do... I expect a pre-earnings correction DONT BE GREEDY WITH ANY OPTION CALLS HELD FOR NEXT FEW WEEKS games are easily played very early in the reporting cycle since the worst performers come out first, allowing big whorehouses to pollute and distort and arouse fears... last to report are the solid companies big deal Raytheon warned today... they suck not exactly leading edge anything, eh? / Jim