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

To: limtex who wrote (6652)	12/23/1997 11:31:00 AM
From: MonsieurGonzo	Respond to of 152472

Ian; RE:" Explanation " (1) Might be support for QCOM around here (47-1/2) from a long-term UpTrend still intact on QCOM's monthly chart. (2) Base support appears to be around ~40. Tech selloff is relentless and now tax-related selling will probably take place towards the end of the year. If you want to buy QCOM here, I recommend you hedge your position by writing a CALL (preferred) or buying a PUT. I was hoping that the "candlesticks" on Friday had indicated capital creeping back in to the TechStocks, but Monday's candle failed to confirm this sentiment. Thus I took no trading position in QCOM. -Steve