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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (3410)	9/24/2000 10:26:06 AM
From: DepyDog	Read Replies (1) \| Respond to of 65232

Qualcomm, Inc. - QCOM $73.00 (+6.75 this week) We’re happy to extend our welcome with open arms as QCOM returns to our bullish play list. As you’ll recall, we were taken out of this play during Wednesday’s session when our stop was triggered. Since then, although QCOM has only closed marginally higher from our sell stop, the overall technical picture still looks very promising. The two-day profit-taking pullback was on decreased volume, and the support at the $70 level also held in Friday’s trading. Just like the Nasdaq, QCOM gapped down Friday morning, but then rebounded strongly to finish near the high of the day. Closing a shade under the 5-dma (currently at $73.50), QCOM needs to charge through this level in order to resume its upward momentum. Analysts have been pounding the table recently, reiterating the potential of the wireless sector. Jeff Provence, manager of Wireless Fund, was quoted as saying there are still many growth opportunities in the wireless sector, and that the outlook remains very positive. The key to this play in the coming week is a follow-through of Friday’s rebound. With the nearest overhead resistance not until $85, QCOM has a lot of room to run. Earnings Date 10/18 (Not Confirmed) netbulls.com BEA Systems Inc - BEAS $74.44 (+10.38 this week) BEA Systems is the E-commerce transactions company powering many of the world's most innovative companies that serve the "E-generation" companies. E-generation companies rely on the Web to conduct everyday business. At a recent Internet conference sponsored by Prudential Securities, BEAS gave a very bullish presentation concerning current and future business growth. A company spokesperson also made positive comments concerning future earnings estimates. As a result, Prudential raised their price target from $70 to $100, expecting stock prices to rise based on earnings growth. Intel shocked the market late Thursday with a warning that the company may not meet revenue expectations, and going forward this news will probably take down the entire tech and software sectors. Nevertheless, Lehman Brothers mentioned on Friday that they will use any weakness in the shares of BEAS as a buying opportunity, due too the strong demand for BEAS products and their healthy business in Europe. During Friday's volatile trading session, BEAS gapped down at the open of trading - reaching a low for the day of $65.31. Momentum players quickly stepped, in bidding up the stock for the remainder of the day to close at $74.44 (14 percent higher for the week). Volume was heavy, and inflows were very strong. If the current wave of momentum continues, a new 52-week high above $78.88 set back in February should be taken out shortly. Consider new plays at current levels or on a profit taking pullback to $71. Earnings Date 11/14 (Not Confirmed) netbulls.com =================