Compaq Message Board - Msg: 7453220

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Technology Stocks : Compaq

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To: Richie who wrote (44858)	1/24/1999 12:22:00 PM
From: Kenya AA	Read Replies (1) of 97611

Hi Richie: I'm just fine, thanks. Weather is really gloomy here so I'm not feeling too bad about working on the weekend. Here's my take ... I said that I thought CPQ would get to a little over 50 by earnings, moving up this past week on better than expected earnings in the tech sector. Then either before or after the earnings announcement it would sell off 3-4 points before resuming its general uptrend - speed of the bounce back depending on macro market conditions. I was expecting a market decline (consolidation) at the end of Jan. or beginning of Feb. In light of the market action this past week? Well in general the earnings are coming in better than expected, but it's not helping anyone because the "consolidation" apparently started a week early. I think IBM and LU disappointments are having a very negative effect - I was really surprised about LU. If anything acts as a self-fulfilling prophecy, it's the stock market. If you believe a decline is coming, you try to take your money off the table before everyone else. Enough people doing that makes the expected event come earlier. IBD notes that the pullback in the market is coming on declining volume, meaning that it is a normal consolidation rather than something more serious. I still think we will do the $50+ this coming week - the spread between the earnings announcement and the cc probably having some effect, but what I don't know. My thoughts at the moment are that I should sell CPQ when I start hearing their whisper numbers on CNBC. <ggg> K

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