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

To: waverider who wrote (77873)	7/26/2000 1:30:11 PM
From: freeus	Respond to of 152472

Great post there Diamond H! did the charts predict Spinco? I do think that the charts, over a longer time, show trends. Perhaps those of us who do not yet understand TA act on charts too quickly, without realizing what we are doing. (I'm going to a workshop on Point and Figure tonight: remember when Tom Dorsey posted on our thread many moons ago that Qcom was going to stall at 150 and might trade from 120 to 150 for months and months. Of course many on the thread scolded him severely but he was not only right about stalling,, he underestimated the collapse of the stock price. If you look at a longer term chart of qualcomm (years) it had a fabulous uptrend: if you focus on the beginning of this year it should have been clear to us that we were in a horrible downtrend. But aside from that, when a stock goes up drastically it retreats. 156 is pretty drastic. Even if the retreat had been less dramatic, we could have predicted at least some of it. I can't act on charts yet, but I surely do watch them. I'm still trying to decide if we are in our overall downtrend yet for the market (in which case Qcom will go down too) or if it's safe to buy more. Freeus