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

To: Ruffian who wrote (53524)	12/11/1999 11:34:00 AM
From: Jim Willie CB	Read Replies (3) \| Respond to of 152472

Ruffian and MileHigh, TA comments on theQ I see a combination of two patterns... first is the bullish inverted triangle from the Nov15th high in 390's, down to impulse Nov17th low in 340's, back to Nov26th low at same 390's, down to Dec1st low in 360's... at that point early this week, we busted thru the 390's resistance arbitrary ceiling and sampled some coffee in the 4th pavilion for the next few days, lack of conviction manifested by lack of volume pulled us back to the "old 390's ceiling"... the 390's held despite the intraday minor scare on Thursday... at this time we are resting on a floor defined by the old ceiling in mass psychology terms, growing numbers of people are joining those who are beginning to cover just above 390... these joining folks see it as safe to ride with people who have given up on shorting QCOM in the 350-390 range any longer... thus the old ceiling transforms to the new floor... on Thursday the drop down to 380 was apparently a distortion orchestrated by the MarketMakers when the NazComp was also selling off... notice that QCOM could not stay down below the 390 mark that day, springing up in the last several minutes now a second pattern has begun to show itself, as MileHigh points out... it appears to be an upchannel with about 45 pts height... Thursday saw a visit to its lower boundary... Tuesday saw a visit to its upper boundary... at Friday close we rest toward the lower range of the upchannel I still maintain we are only resting after busting thru the very significant bullish inverted triangle... I dont expect the upper boundary of the upchannel to limit our upside rampage... the bullish inverted triangle is one of two extremely reliable TA patterns in my lexicon... the other is the Cup&Handle... and recall from previous post that I pointed out a major C&H and a minor C&H embedded in the November inverted triangle... so the power of both reliable TA patterns indicates a strong upleg coming imminently I see 430 (give or take) in a flash when we break above 410 or so, the shorts will be covering simultaneously with a change in their soiled skivvies... these same shorts will be checking their balances to see if they can continue trading their accounts... the breakout will encourage a bandwagon effect leading to a rampage... any news on the handset deal will only add to the positive psychology that is building Cramer on Street.com is a verifiable idiot "good news built in" is the favorite phrase when people dont understand the story the handset deal will generate many stories discussing the awesome potential of the Intel Business Model, which Cramer hasnt even thought about... does he know what HDR means?... I concur MMike, that Cramer is a contrary indicator, sort of like the person who tells me Cramer is a contrary indicator (sorry, couldnt resist) also, S&P500 shows a positive bias in its recent shorterm bottom formation, thus indicating upside imminent... its shorterm and nearterm moving averages are each aligned together in upward fashion also, NazComp utter awesome historically unprecedented volume confims on a daily basis the strong rally in progress... its shorterm and nearterm moving averages are each aligned together in upward fashion... the biggest tech rally in history is about to enter the second phase / Jim Willie