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Re: [RT] CHK



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thanks
Ben
----- Original Message -----
From: Ira
Sent: Tuesday, June 13, 2006 2:26 AM
Subject: Re: [RT] CHK

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 -----
From: Ben
Sent: Monday, June 12, 2006 6:18 PM
Subject: Re: [RT] CHK

Hello Ira
bought today wfr at  30.95
and qcom at   42.23
where will bail out if wrong?
if correct
where will you take profit?
Ben
 
----- Original Message -----
From: Ira
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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