Ben:
I have a downside target of WFR or 21 with
support at 30 and 26. You should get a bounce from this level.
Look for resistance at 34 and it will have to take out 39 for a major
move up. I would need a price of 32 to go long on a retracement and the
long would be very short lived. First price objective would be
33 3/8, I am still old school with prices with a target price of 36
9/16.
QCOM is in a similar position. I have it at
support here with a downside target of 38 3/4. I would need a price of
42 to go long here with less then a point for the price objective and an
upside target of 44+.
It appears that you are going long off of support
levels which appear to be my intermediate price objectives. I would be
exiting shorts at these levels and waiting for price to prove to me that there
is a direction change, a retracement, or a continuation of the
move.
On each of these retracements there are
intermediate price objectives that could act as resistance to halt price
action.
Hope that this helps a little. Once again,
just one man's opinion. Ira.
PS. You got my neck sticking out
again. Have a good week.
----- Original Message -----
Sent: Monday, June 12, 2006 6:18
PM
Subject: Re: [RT] CHK
Hello Ira
and qcom at 42.23
where will bail out if wrong?
if correct
where will you take profit?
Ben
----- Original Message -----
Sent: Monday, June 12, 2006 3:33
PM
Subject: [RT] CHK
Still downside pressure on the stock.
The key here is if the 27 3/4 - 28 support level will hold. If not,
look for 27 -27 1/4.
Still no buy signal on this
one. Hope that you are not acquiring to aggressively as
yet Bob.
Just one man's opinion. Ira.
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