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

To: Jenne who wrote (46857)	11/1/1999 1:38:00 PM
From: Poet	Read Replies (1) \| Respond to of 152472

I think it will a bit, yes. Partly because many companies do (and yes I noticed JDSU), partly because of the upcoming FOMC meeting on 11-16. I've sold all my Nov calls and have legged into the Jan 200's. If we pop to 240, I'll sell all my Januarys with the intention of rebuying them on Nov 15 and 16. What do you think will happen and how are you positioning yourself?

To: Jenne who wrote (46857)	11/1/1999 2:10:00 PM
From: Farfel	Respond to of 152472

Jenne, another guess from the "peanut gallery"----last earnings period, according to my chart it sold down from about 170 on July earnings to the 155 area and then dipped as low as about 135 ( I think that was on other "Motorola concerns) all from the middle of July until early August. It then turned upward and ran to touch 200 near the end of Augustand then epped back dow to 151 about sept 8----from which it turned bac up and rant to a second "test" of 200 about 20 sept followed by a retracement to the 180 arean and then breaking back up and through 200 around the first week in October. This is the third time since that early October test of 225 that QCOM is testing 225 and it is seemingly breaking through. The difference in the "tape action" this time from the last earnings period is that on the July announcement QCOM WAS AT ITS HIGH when earnings was announced !!! This time, we are at the 225 mark which has mrked intraday highs 3 times during the last month---and this is the first time we are breaking through, that mark----in charting, the 3rd time usually does the trick !!! Often when a stock is moving higher it will find a point of resistance---even when it is breaking ground in new territory: and it retraces and retests-------usually the 3rd test IS the breakthrough test----so barring an earnings disappointment---I am not sure we will see a great retracement other than the "Greenspan week effect" during which time we might get a buying opportunity. Of course, no one has a crystal ball----although I have seen a few who claim they do---so "guessing" is all we can do based on prior events and action----(sounds a lot like handicapping the "iron ponies" doesn't it).