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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (24831)	8/21/2001 8:00:25 AM
From: Zeev Hed	Respond to of 30051

QCOM relative strength is much better than t was in February, and we are about 16% from what I would consider the next low. If I was bullish and of the opinion that QCOM will decline the same amount, would have used the $55 area rather than $47 (about 16% from current levels), so I am not particularly bullish. I am, however less bearish than earlier (my target low for QCOM was until recently, $35, right now, that target seems to be overly pessimistic.) on QCOM. Zeev