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

To: waverider who wrote (73175)	6/3/2000 9:49:00 PM
From: TheKelster	Respond to of 152472

I agree with your thoughts in general. Still I question not only where the bottom is in this stock, but in the Markets as a whole. After a possible summer rally (June) trying to shape up, most of us would not be prepared for another correction like the one we've been having. Many wish they had used some sort of stop loss long ago. Not many of us are buying a major further leg down. Yet the last one seem to surprise us too. In Q for instance, we have by no means broken the current downtrend. There is a short term inverted H&S on the 1/2 hour chart (I use a 36M). But, it has a declining neckline and the right shoulder doesn't look healthy. I would not be taking any new long positions in Q until it shows an ability to break out of it's current channel. My updated comments and charts on Q can be seen here: home.swbell.net