Good News From Richmond and Lots of Charts

Gary looks at Pepsi, Qualcomm, Johnson & Johnson, Informix and more.
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Okay, since I promised, a brief swimming update from Richmond. First the good news: Diana annihilated her previous best in the 50-meter breast, swimming a very swift 44.44. That time easily qualified her for the "Zone" meet later this year.At 10 years old, that's the highest level of competition there is. (As she gets older, it's Jr. Nationals, Sr. Nationals and Olympic trials. But, we're a few years away from thinking about those!)

The bad news: YKW (You Know Who) swam a jaw-dropping 40.12. Folks, that's just a "whole 'nother league" fast. But, who knows, maybe not such bad news for DS. As I said to Nancy, I'd rather have the best swimmer in the country be Diana's teammate than swim for a team 3,000 miles away.

Next stop: Maryland Long Course Championships. (Whew! YKW lives in Virginia!!)

Anyway, here we are, another Saturday, and loads of good questions. Send yours to

technicalforum@thestreet.com along with your full name.

Watching the Trend

Hi Gary, What is your take on VISX (VISX) ? Where is support and resistance? How does the trend look? Thanks, your skill is a difficult one to mimic. David Balsamini

A Parent's Take

Gary, I never realized how much I would enjoy watching my children grow up. I understand your enthusiasm about your daughters. Please give me your short- and long-term analysis of the Pepsi (PEP) - Get Report chart. Irene Lundquist

The Cellular Wars

Hi Gary! I really enjoy reading your column and was hoping to get your analysis of Qualcomm (QCOM) - Get Report. I first purchased it over a year ago, but it never really did anything. Lately in March it really went gangbusters when they settled their litigation with Ericsson (ERICY) . I've looked at its longer-term chart and it looks really bullish to me because of the long basing period before the breakout. I was hoping for your expert analysis. Thanks! Soman Mathai

A Catapulting Stock

Dear Gary: I bought Catapult Communications (CATT) just as it cleared its high around 20. I had noticed its favorable IBD ratings. So armed with this data and what I've gleaned from you I launched. It ramped right away, as Mr. Cramer might say, hitting 30 or so on an interim basis the next day. It backed off and I bought another shot at 24. The overall tape doesn't seem to present the most propitious environment for profits these days it seems, but I couldn't help I admit imagining this to be the next Internet-like wunderstock. I'd appreciate your read on Catapult. Fritz Alders

Time to Buy?

Can you take a look at Informix (IFMX) ? You covered it some time ago when it was doing better. I feel it has long-term support around $7 and if it breaks the down trend line on good volume, it may start trending up again and I would like to buy at that point. What do you think? John Bosco

Resistance

Your comments on Minimed (MNMD) please. It seemed to have broken resistance at the 59 area, with its spike to 67, but since is back again to that area. John O'Leary

Finally, I have to end with Joe Flanagan's superb effort at getting his question noticed. Not only did Joe appeal to my pride by flattering my daughter, but he sent in a superb photo, no doubt of himself! Joe, well done!

Once a Swimmer ...

Gary, I'm a 26-year-old ex-swimmer. I would probably pull a groin if I tried to swim a 40-second 50 breast! I'm looking at Johnson & Johnson (JNJ) - Get Report at 92 & change. JNJ recently bounced off its 100-day moving average. It appears to me that there is support at 90. I'm tempted to enter on the next positive trading day due to good fundamentals minus the high P/E. Would you want to see 90 tested again before entering? What does this chart say to you? Good luck on the upcoming season! Joe Flanagan

Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes five technical analysis columns for TheStreet.com each week, including Technician's Take, Charted Territory and TSC Technical Forum. While he cannot provide investment advice or recommendations, he welcomes your feedback at

gbsmith@ibm.net.