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Technology Stocks : The New QUALCOMM - Coming Into Buy Range -- Ignore unavailable to you. Want to Upgrade?

To: JeffreyHF who wrote (5814)	2/8/2010 11:56:17 AM
From: John Hayman	Read Replies (1) \| Respond to of 9129

My feelings exactly. " I can't recall ever experiencing such sustained high volume to the downside in this stock, nor such a flimsy reason for same. " The stock fell during/after the earnings report, so I ASSUME that the report didn't meet expectations. But...how could so many shares/sellers, decide at the same time, that the report was REALLY bad? Something is wrong here. That report didn't merit that type of sell off. I keep thinking there is some bad news still out there, but the fall came with the earnings report, so??? Who knows? John goQ!

To: JeffreyHF who wrote (5814)	2/8/2010 4:36:48 PM
From: lml	2 Recommendations Read Replies (1) \| Respond to of 9129

I agree. The technical analysis of the article is good. However, what can change is a change in fundamentals, which is always in QCOM's management's court. Until such event, the technical analysis in the article remains intact. Notwithstanding, the volume with which this stock plummeted illustrates how much "hot air" was in the stock when it lofted up to the uppermost 40s. This stock is, & has always been, a trader's dream, provided you know how to trade with discipline. For the longer term investor, the stock is dead money. The opportunity for the investor is to increase one's position as the stock approaches next support levels. Contrary to the author's view, what is driving QCOM to lower support levels of 34-35 is the current overall market direction, & not particular to the technicals of the stock. But for the recent turn in the general market, support for the stock is around current levels, but namely in the 37-38 range. In my view any drop into the 35-37 ranges should provide opportunity to increase one's position. What technicals don't convey is the fact that companies in the mobile space will offer above-average growth as the world economy recovers, & QCOM is uniquely position to be one beneficiary. In short, once the clouds currently hovering over the company pricing, & the mobile wireless space clear, expect a return to heavy buying & upward momentum. Technical resistance levels will dampen the upward move @ first. The key will be in the upward trend staying power, which, if anything can be learned from the article, will reveal itself in the charts.