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Strategies & Market Trends : Tech Stock Options
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To: Tom Trader who wrote (6804)4/3/1997 8:11:00 PM
From: SFW   of 58727
 
Tom,

On HBOC, notice that it has been forming a series of lower highs and lower lows since it peaked close to 70 way back. Most recently it went to 51 then 58, followed by 47 to 54 and now 42.5 to 48. I too like the company but I agree with you that it will likely go back down before it moves up a lot. Strong support appears to be at 36-37. That will likely be my entry point .At that price the pe would be 22 for 1997 and about 16 based on 1998 estimates, real cheap for a company growing at 40%.

Abed
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