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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Petrol who wrote (21071)	7/23/2002 12:28:35 AM
From: Susan G	Respond to of 26752

I knew there was a reason I liked that guy <g> The only tell it like it is media guy out there, and he really knows his stuff.

To: Petrol who wrote (21071)	7/23/2002 12:38:12 AM
From: Susan G	Respond to of 26752

If you are looking for something that looks ready to short, QCOM has a big old rising wedge on the daily chart, leading right into that overhead resistance area around 30.40 where it broke down. If it breaks 28.70 or so it could go to the bottom of the wedge around 24.50 fast. A break of 28 will confirm the wedge is breaking. Closed back below the 50 EMA daily after being above for 3 days. MACD, Stoch, RSI and Momentum indicators about to give a sell signal, and the ADX may be also. But then again, there's still a cult following in this stock so the buy the dippers may be vicious!