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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: The Freep who wrote (126915)	12/11/2005 9:22:46 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Which version would you prefer? Bearish, or wildly bullish? I'll do both. First, bearish. On the weekly, QCOM may be completing the 5th from July 2002. A correction would bring the stock quite a bit down. The (presumed) Wave 4 low is near 32. One more bearish consideration: If it were not for the strange recent island which lasted a few days, the action since August looks a lot like an ED. Bullish -- Look at the (daily) April low. From there, the stock traced out an impulse which topped on October 4 (Wave 3 ended on 8/15). From the Oct 4 top the stock made a sharp ABC correction (with C ending at that strange island) -- and from there, it is in the early stages of a brand new major advance... setting up for Wave 3. (The problematic implications on the weekly could be (potentially) resolved if the stock happens to be doing an ABC-X-ABC, where the X was at the last April low). The Adventure Continues.... ;)