Bob all stocks are tradeable but some move with authority and are stronger. QLGC held up far better then all its buddy's in Zeev's Q (QLGC, ELX, BRCM, BRCD and used to be GNSS but now replaced by MERQ). Zeev had a traget for QLGC of 28 if it broke 38, well it bounced in the 33 area. while in Sept it retreated to the teens with all the Q. BRCM just dropped to 14.70, BRCD dropped to 14.48, ELX dropped to 19.49 and GNSS hit 6.29. GNSS I believe was in the 40's in March what a short that was, eh?
I see QLGC having trouble with 40 in this run but if we go to 1526 or higher it will clear next resistance at 42.50 as well and trade near 45 I believe.
Something that we have not talked about this month yet but next Wed. is MAX-PAIN day and this rally is likely to take us right to MAX-PAIN levels and a little beyond before we fall back.
Good trading, steve
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