QCOM, CHK AND XLE ADDED to WATCH LIST 2-9-06
QCOM ONCE AGAIN DROPPED SLIGHLTY BELOW THE $46.50 to $46.16 thus it is being placed back on our WATCH LIST.
We will be watching this issue to see that it remains above $45.50 - $46.00 range. A Recent court decision in favor of QCOM versus Broadcom over patent infringement regarding Blackberry technology provided a nice boounce on Wednesday, but it looked like the that news and a drop of the NASDAQ put QCOM back on the defensive.
CHK's drop under the $32.00 and close at $30.41 - $1.16 places it on our WATCH LIST
We will be looking on Friday for some support to this energy related issue at the $30- $30.25 area. Energy issues have been under pressure lately and even after an early rally in the general market which included a bounce in the energy sector. The energy related areas gave back most of its early morning gains. We will be watching enrgy and oil prices looking for a support around the $30 level for CHK. We will keep you advised
The Energy index seems to be under the same pressure as the individual issues. With XLE's drop under $53 it has been placed on our WATCH LIST. We will be looking for some support in the energy sector and an attempt to build a base at around the $52 - $52.50 area. Similiar to CHK, this energy index has been under pressure from lower oil and energy related prices.
CURRENT ISSUES ON WATCH LIST as of FEBRUARY 9, 2006
We will keep you advised on any action that may be needed regarding these issues
We will begin making our RECOMMENDATIONS for MARCH this weekend.