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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: james ball who wrote (18168)	4/15/1999 8:19:00 PM
From: Jerry Olson	Read Replies (4) \| Respond to of 34811

Tommy D & all Piffers... i'd like to present a chart for everyones looksee... QCOM....The stock was on a high pole from 146 straight up to 176, off a bullish triangle... you would expect a full 50% retrace down at any time to 160ish... today in the panic selling of the net sector, this stock crashed down to 140!!!!!!!..in fact it broke a double bottom... and then it promptly ran up to "a 50%" retrace of the "intraday low pole"<g>...panic selloff... what i'm saying is this...P&F can show you even intraday, what is going on with panic selling of a high quality stock.. on top of that, QCOM announced a 2-1 stock split "BEFORE" the bell today... tomr, if it prints 160 and holds it will put in a new line of X's, that would be a full 50% retrace of that selloff, if it prints 138!!!! it would stay in a col. of O's...these are the action points for QCOM.... anyone wanna bet where this stock will close tomr???? and the reason i'm even talking about this, is to show what i consider, "selling at all cost" panic driven mania... this stock will annonce earnings next Tues after the close...Blowout, would be my guess, and then folks, just for good measure, they split the damn stock on MAY 10th...... Hello????? ok, yeah, i know, you'll thank me later...gifts are always nice<g>....