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Technology Stocks : IBM
IBM 305.67+2.6%Jan 16 9:30 AM EST
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To: David W. Taylor who wrote (5957)11/18/1999 8:23:00 AM
From: J. P.  Read Replies (1) of 8220
 
Congratulations on the puts Dave, that was a good play for you.

I think though, that this stock will rally in the next couple of months. We've seen a big correction and the stock is hated right now. It's building a small base in the low-mid nineties.

I believe the market is a discounting mechanism working a few months in advance, IBM's woes are Y2K stuff, corporate coffers open up again for IT spending in January, and there are probably a lot of projects which will be put into implementation which are only waiting out the Y2K freeze period. I look for the 120's early next year. And I also look for another bond issue/buyback program as the company may like the debt/equity return and want to take advantage of it, further raising their EPS, a trick they like.
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