Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: The Reaper who wrote (80378)	9/15/2000 1:47:23 AM
From: cfoe	Respond to of 152472

FWIW - From Multex 9/14 Title: Buy alert! Reads: 2556 times Posted to: QCOM Posted by: gg1221 on 8/27/00 5:35:49 PM -------------------------------------------------------------------------------- Greetings, QCOM has been trading inside the $50 to $70 range the last two months, its imminent that a major breakout is due soon. Altho I have said in a previous post that I would not consider a long trade until the $70 level is exceeded signalling a major bottom is in, I have changed my mind due to the extremely attractive opportunity currently. QCOM has had nothing but bad news this year, driving prices from the high of $200 to the current level. On 8/23, price found support at the 78% retracement level at $54.813, clearly above the previous low of $51.50. The following day on 8/24, price bounced firmly to reach $60, followed by a pullback on 8/25 and closed at $58.875. This represents an excellent buying opportunity with a rather small risk. A buy at $60 or better, with a sell stop just below $54.813, will provide us with a 1<10 risk/reward ratio. If this bottom holds, I expect a minimum 50% retracement which will bring prices back to $125. Peace and profits... GG