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Technology Stocks : Compaq
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To: Piotr Koziol who wrote (69646)10/23/1999 8:08:00 AM
From: rupert1  Read Replies (1) of 97611
 
Piotr:

If you want good news go to Yahoo CPQ. The so-called"Zoo" is far more balanced now than this SI thread. Look back at all Ziwarsky 76 postings. They are such a refreshing antidote to Captain's daily dirge.

The potential flaw in Z76's logic is his heavy reliance on CPQ generated information and on its IR department. But if CPQ is now more trustworthy than it was 6-12 months ago, his logic is impeccable.

Here are his comments on CPQ's TA for Friday.

(BTW I notice that after-hours CPQ was 18 3/4 to 19).

COMPAQ new LOW techinical view
by: sikorskys76 103786 of 103934
Compaq computers squashed rumors of a Friday preannouncement on earnings.

Top management is not at headquarters, but will return in time for Tuesday's Earnings Release.

Investor Relations indicated that the NYSE Specialist sees strong support below $19 and heavy buying from institutional portfolio managers.

Technical factors are creating the illusion of a stock in the dump. Generally, when a stock makes a new high or low, it's in "unchartered" territory and will be pushed along by inertia.

I suspect that after breaking 20, the "chartist" saw no further support levels except down @ 17 1/2 (midpoint of option strike handles 15/20). Consequently, the stock has pushed the lower limits in search of a "bottom."

Tax-loss selling may be the overwhelming fundamental factor associated with the increased volume found in this downside move in share price, as mutual funds lock in tax losses before their fiscal year ends on October 31, 1999.
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