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Near-term Cautious On Broadcom

|Includes:Broadcom Limited (AVGO), QCOM

While I'm bullish on Broadcom medium term (, $40 is a multi-year resistance point. That along with the 'perceived' competition from Qualcomm on mobile chips (I think the actual effect on Broadcom much less than the trade rags suggest) will keep a lid on BRCM.

Disclosure: I am long BRCM.

Stocks: AVGO, QCOM