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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: LBstocks who wrote (1674)	11/3/1999 11:00:00 PM
From: Guy Gordon	Respond to of 24042

OT: "Would you mind posting your chart on QCOM, too?" OK. white-crane.com As you can see, I bought QCOM only one month ago. I should have bought it in Sept. when it touched the 50-day moving average, but I missed it. (Don't remember why.) So I ended up chasing it a little higher than I liked. Sure enough, the week after I bought it, it dropped back down to the support line. The reason I want to buy at the support line is not so much to get the lowest price, but to limit my risk. I want to set my stop just below the trendline, so that if the stock tanks, I get out with only a small loss. Where I bought QCOM (208), I had to put my stop down at 175. So I would have taken a 15% loss before selling. If I had waited for it to come back down to the 26-day MA I could have bought it for 193, and put my stop at 186. Then I would have been able to sell at only a 5% loss if the market had tanked. You can see that QCOM is not near the top of my channel. So I am not contemplating any action. It's a hold.