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Technology Stocks : Compaq
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To: Captain Jack who wrote (78541)2/20/2000 9:18:00 AM
From: rupert1  Read Replies (1) of 97611
 
Captain: That "Tice" publication has a vested interest in a bear view. They are professional bears. They run bear funds. They are similar to Michael Burke. Every now and then they are right. Because at least once a year there is a big correction. At the beginning and in the middle of major corrections people start believing "end of the world" scenarios - that's why they panic and sell. At some point, the prices of individual stocks and the indices have discounted most of the bad news, and then people start believing again in growth and profits.

I think that Abbey Cohen is right. The market is not over-priced even though some sectors are. There will be gains this year but they will not be as great or as easy as in previous years. Unfortunatley, in the process to correct the overvaleud stocks, most stocks get hit. This is painful to holders but presents buying opportunities to others.

Going back to the "Tice" view. His bearish comments indirectly caused Tyco to go from $53 to $22 in a day or two. The SEC is investigating the substance of his comments and so far most informed analysts say he was wrong. Meanwhile Tyco has recovered to $43 (it is $37 1/2 after the Friday correction).

I don't think CPQ should correct beyond $23. Actually, I don't think $25 is justified - it ought to be higher. But in a severe market correction, COMPAQ's lack of strong believers makes it vulnerable and who knows what intraday dip there might be. But this should not worry long term holders. I think COMPAQ would be a short-term trading buy at any price below $25.
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