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Technology Stocks : THQ,Inc. (THQI)
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To: Todd D. Wiener who wrote (3319)2/12/1998 9:51:00 AM
From: Robert G. Harrell  Read Replies (1) of 14266
 
Todd, --SLIGHTLY OFF TOPIC TA QUESTION--
Since the current discussion seems to be revolving around spotting a top, I wanted to ask you and any other TA users about an unusual event with one of my Y2K stocks.

I own three stocks in the Y2K sector, Ciber (CBR), Computer Horizons (CHRZ) and Computer Task Group (TSK). They have all moved up sharply since early Nov. and are at very high P/E's. They have apparently been on again off again favorites of momentum investors and pull back sharply when the herd decides to rotate to a new sector. I'm wondering if this is beginning to happen again but I'm afraid to jump out on this assumption because the Y2K problem has once again become high profile and this time serious revenues are beginning to show up on the bottom lines of the major players. All three have successively smaller and smaller price swings as they move up which is what I think would be called a narrowing upward channel which is good isn't it?

Anyway, yesterday Ciber traded about four times normal volume and spiked up about 5 points intraday closing unchanged from the previous day's new high. The other two closed down some from previous day new highs. Would this action, especially Ciber's, be any kind of classic signal for a top?

Thanks in advance,

Bob
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