Here is why I am shorting QCOM..

Is it just me or is this QCOM reit of guidance a big nonstory? Apparently they are saying China demand in second half will pull them through. And maybe NOK will bury them. Which is more likely?

 

Moved down my trail stop on qcom.. to 31.56.. which is the 5/14 high.

So far... I am up roughly %7 on the short.. I will just trail out the position until I get stopped out...




--MIKE

 

QCOM forms a small H &S pattern... extrapolating to 33.50+. But first it's gotta form a right N/L considering May 15th as the 'head'.

This is an IF right now.


Regards,

Ice

 

I still say be careful. The moment SARS appears to be beat ( for now anyway) QCOM will jump.

 

I forgot to put this in, a lot of far easterners trade QCOM.

 

stopped out.... for a modest overall gain..



--mike

 

are you looking to go long or short... from some higher/lower pivot level?


Ice

 

no.. i am done w/ qcom....

For technical purposes.. a close under 29.58 would still be bearish...