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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: jjstingray who wrote (31454)	2/20/2002 4:44:43 PM
From: Caxton Rhodes	Read Replies (1) \| Respond to of 99280

I'm just calling it as I see it, qcom definitely looks "bottommy" here, even though we set a lower intrady low. I will continue to watch it like a hawk. I am way long and like to discuss it with those of opposing opinions. If it breaks 32.5 which is the giant bottom downtrend line, the 20s should be easy. I have no clue where it would bottom from there, but the stock would be very cheap. As a fundamental note, remember that even though new wireless subs are slowing, qcom is targeting the other 80% of the wireless market, and the GSM/TDMA guys don't have a chance in hell of going after the 20% cdma market. Caxton

To: jjstingray who wrote (31454)	2/20/2002 5:09:22 PM
From: LTK007	Read Replies (1) \| Respond to of 99280

ST chimes in on your point <<Subject: its a relief Symbol: Market Message: bounce.........the difference between a relief bounce and a measurable move is that a measurable move (see NDX DD in the traders foyer) comes from objective consolidation and subsequent violation of support or resistance which the consolidation had been taking place........a bounce (todays action) comes at / near the area where the measurable pattern measures to.........therefore, i cannot (nor can anyone) say this is anything other than a relief bounce off a strong support.........one can trade measureable patterns to / near their measurements and or bounces to resistance.......lots of ways to trade, but IMPORTANT to know the distinction between measureable patterns and bounces.........hope that helps >Blaine, does this look like mostly short covering or is there some meat behing the rally? TIA>>