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

To: KaiserSosze who wrote (67114)	2/17/2000 9:07:00 AM
From: HairBall	Respond to of 152472

KaiserSosze: would you consider this level a "break" of the trendline, or just a penetration? As I have noted in earlier posts, I always view action points...formation boundaries, trend lines and price action areas...real time via my indicators. The move below the rising support line was a borderline move...very close to a break! The difference between a break or penetration at that point (for me) is what my shorter-term intraday indicators are signaling. They were entering the oversold area. This dictates to me to wait for some extension of a move down before acting on it. (Confirmation of the break if you will.) I only act on the high percentage plays, but technical analysis is not 100%. Anytime you act on one of the above mentioned action points, always have an exit plan in place and or stop loss. At this point, the pre market trading indicates at this time that a gap up is possible. If that move puts the price action back inside the two converging trends lines, it will be back to watching them both. The intersection of those two trend lines occurs tomorrow. I suspect the next move will be revealed today... Interesting timing today considering Greenspan speaks, the government reports that come out, the recent QCOM news, scheduled analyst meeting and options expiry. If QCOM gaps up (seems likely), I would be watching closely for follow through or weakness! Back to lurking... Regards, LG