QCOM Reacts as Hoped!
at 2005-11-12 23:55:02
QCOM did exactly what I had hoped it would. I ended up selling at 42.70 for a nice 5.75 % profit. It closed at 44, and could go even higher, but these earnings moves have been unpredictable of late. If there's a low volume pullback, I may take a position again.
I bought 1200 shares of iVillage at 7.94. It's been spiking on good volume on talks that a Google or Yahoo could pick it up. Current market cap is 545 million, and 700 million is the sale figure I've been seeing. Closed at 7.75. Will sell if it doesn't peform tomorrow.
May cut losses on BCRX.
Is tech going to continue to rally or will it pullback? That's the big question on my mind right now. If there is a pullback, I will be buying.
Checked out the Chartman's subscription service today on thestre
Back in QCOM at 2005-11-12 23:55:02
Took a position in QCOM on today's pullback. Bought 375 shares at 43.50. As you can see from the chart, the next resistance is at 45.50. I will likely sell if it nears this area, and reenter if it breaks out. A pullback on low volume could provide another reentry point. Their is some risk that it will fill it's recent gap. However, with the recent upward guidance, I'm willing to take the risk and expect that it could breakout over 45.50.
Sold IVIL and BCRX for total losses of $548. It doesn't take much analysis to see wher
Watch for Monday at 2005-11-12 23:55:02
Stock to keep an eye on Monday:
LWSN: Watch for pullback
PWAV: Attempting to break resistance at 13 for the second time and pierced Bollinger Band. Cramer mention Friday night. Huge volume spike Friday and gap up.
HON: Watch for it to break 50MA and a resistance point in 36 to 37 range on good earnings news.
ESLR: Solar energy. Signed big contract. 52 week high. Volume and price spike too high to buy right now. Watch for pullback.
QCOM: Because I own it.
EXPE: Watch for breakout over high of 25.
KFRC: Breakout over 12.
BOOM, OXPS, AMTD
PWAV
at 2005-11-12 23:55:02
Bought PWAV at 13.07 after it broke the 13 resistance on high volume. QCOM is holding steady at 44.65. A slight pullback before going after the mid 45 resistance wouldn't surprise me.
Evening Update: Sold PWAV at 13.40 for a nice, quick profit. I usually hold for more than one day, but I am always weary of stocks Cramer pumps. While I haven't tested it, they seem to have a tendancy to fall a few days after the pump.
My only holding is QCOM. Hoping it can get close to the resistance point tomorrow. I am worried about the Nasdaq and market in general pulling back after this past week, so I will likely sell on any strength.
Stockwatch for Tuesday:
BOOM reports tomorrow. With the recent runup, I wouldn't be surprised to see a selloff.
ESLR: Watch for it t
Busy Day, Three Trades and Wednesday's Stockwatch at 2005-11-12 23:55:02
Rough day to trade with a busy day at work, having to come home to pick up my sick daughter and trying to manage my postions. Still made three moves. Sold QCOM at 45.14 for a 3.6 percent gain ($600). Dismissed technicals and went with gut to take position in CHK at 38.60. Planned to hold for a few days thinking it will crack $30, but the stock jumped to 39.15 within an hour so I sold to take a quick 1.4 percent gain. If it pulls back, I'd like to take another position. Keep buying and selling CHK based on weakness and strengh. Next took a position in HHH (internet holders trust) at 63.95, which I am currently holding.
Stockwatch for Wednesday (click link to see charts):
Charts for apcs, bits, abix, givn, mmu
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