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Blog Archive

Thursday, November 03, 2005

QCOM

How to view the entire chart:


1. Try clicking on the name of the most recent article in the column on the right. This will remove the "Archives" list.
2. Try right click on the chart itself and open it on a separate window.


I am sorry that I cannot always make the chart small enough to fit neatly on the left column. I want you to be able to see the details I want to point out.


I Hope this helps,


Juan

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I am entering a long-term trade, because QCOM is showing a long-term impulse series. A rare thing these days. SO I will enter a long Jan07 50 call and a short Jan06. This is OTM, but I am confident that the strike price will be met between now and then.

I did enter this position on QCOM early today. I intend to keep this one for a long time. QCOM reports in early Feb again. We will review the position then. As usual, I entered a contingency order to cloe out if the stock tanks from here:




3 comments:

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Anonymous said...

The QCOM retracement is what I am hoping for with DELL **Smiles**

For QCOM, placing the fibonacci retracement to the lows at the end of June05, early July05 ($33) and the high in mid August05 ($41.50), the 161.8% projection creates the high in early Oct05 at $46. The 261.8% projection from June/July05 and Aug05 is the same as the 161.8% projection from the early Oct05 high (161.8%) which is at $54.50

This could rally up quite a lot, BUT the dramatic fall a few days ago is an indicator of a heavy market mood swings fragile to over confidence confidence. AMZN springs to mind.

Anonymous said...

Long term , can you see that cup and handle formation? Interesting signals indeed.

EWI