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

To: RocketMan who wrote (71165)	4/24/2000 9:02:00 PM
From: jmanvegas	Read Replies (3) \| Respond to of 152472

I mentioned over this past weekend that if Naz tested near its recent lows which it did today, QCOM could trade down into the high 80's - low 90's. Lo & behold, it traded down to the low 90's but had a nice little bounce at the end of the day. From a TA perspective looking at the tea leaves, we've got a gap down, lower highs, lower lows and a lower close below 100. If Naz holds in here, QCOM may be okay. But technically, don't be surprised to see QCOM rally tomorrow or the next day to fill that gap created today and meet resistance in the 110-118 area. But we have 2 key economic reports on Thursday which could kick the hell out of the market if either are deemed inflationary. If the reports turn out to be negative, QCOM would theoretically test today's lows and today's lows better hold or a giant sucking sound in all probability could take QCOM down into the high 70's - mid 80's. Now many here would say this TA stuff is day-to-day bullsh*t. Well that's okay. But the charts are breaking down on QCOM right now and QCOM better make a stand right in here to remain technically healthy. Good luck all. jmanvegas (a member of the quack, quack club)