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

To: Spytrdr who wrote (112409)	2/7/2002 12:20:43 AM
From: techlvr	Respond to of 152472

I surely hope that the lines fail to progress as the chart seems to direct. With the time frame showing it hitting $ in late 2003, when the EPS should be at least 1.40 to 1.50, that would be a pretty low multiple for a stock that is indeed finally in its real growth phase. By the way, I checked your profile, and I must say, you sure have one cool house. Techlvr

To: Spytrdr who wrote (112409)	2/7/2002 12:25:30 AM
From: q_long	Read Replies (1) \| Respond to of 152472

Wouldnt the lack of correct scale on you price axis affect the assumption of a descending triangle. For example the distance between 20 and 40 is not proportionate to 120-140. Yet the scale on the time access is correct.

To: Spytrdr who wrote (112409)	2/7/2002 8:40:56 AM
From: David E. Taylor	Respond to of 152472

Spytrdr: That's an interesting approach - but what exactly is the interpretation? I can't see what meaning can be attached to the intersection (on a logarithmic price chart) of the ascending line connecting the increasing highs from 1993 through 1997 ($5 up to $9) with the decreasing descending line connecting the highs from 2000 through 2002 ($150 down to $60). Fundamentally, QCOM's business (current and going forwards) is quite different over the last 2 years from what it was in 1993-1997. From a TA perspective, the trading patterns in the earlier time period would seem to have little bearing on the trading patterns of the last two years, when QCOM has been "discovered", and has become one of the more volatile trading issues. OTOH, I've been watching the development (over the last 18 months or so of trading history) a classic TA "descending wedge", formed by the two lines connecting the successively lower highs and lower lows. On a linear chart, the two lines forming this "descending wedge" meet at $20 in October 2002, coincidentally identical to where your two lines meet. Historically, stocks caught in this pattern either break down completely to drop well below the wedge formation, or something causes a major breakout well above the wedge. Fundamentals for QCOM would suggest the latter will happen, though maybe not until after two or three more Q's of revenues/earnings show what is happening, in which case we could well get squeezed into that $20 apex by October. If that is what happens, LTB&H's like myself will suffer more pain, and shorts will realize 100% profit from the current $40 level. Am I sure of this TA predicted scenario? Not yet - guess I'll wait to see what comes out of 3GSM in Cannes. Last year IJ dropped his "WCDMA delay until 2004" bombshell, maybe this year something positive will happen. Now if someone can show me a third TA approach that points to $20 by October, maybe I'll be convinced it's for real. David T.