Sell Signal Confirmed: QCOM (127.20) Option: Apr 16th $125P (4.45-4.65) QCOM hasn't been in our short-term trading basket for over two years, but its recent reversal of a multi-year uptrend has set-up a nice series of Sell Signals capturing the new intermediate to long-term downtrend. Its top was at $168 in January, it reported stellar earnings on Feb 3rd, but by March 1st it has fallen to $140. Just one week later it's trading at $128. With six weeks to April expiration the $125P is "only" at $4.25-4.40. Another 10% drop in QCOM in that time frame values that put at about $10.
