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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Logain Ablar who wrote (35943)	1/19/2002 5:41:17 PM
From: j g cordes	Read Replies (1) of 69663

Tim, IBM may be a good options trading vehicle as it has so many players. From current charts I can see 106 as two week target.. though I'd wait to see how Tuesday opens before taking a position. Also wondering how MU is staying so high. Barrons: "Technology stock valuations "are still way out of whack," as evidenced by shares of Intel (INTC: news, chart, profile) and IBM (IBM: news, chart, profile), Alan Abelson wrote in this weekend's Barron's. IBM recently reported fourth-quarter earnings of $1.33, compared to earnings of $1.06 in the fourth quarter of 1997. Yet shares of the company -- which has missed revenue forecasts for three consecutive quarters -- now sell at more than twice the price they sported four years ago, he noted. Intel now sells at twice the price-earnings multiple of 17 that it commanded in the fourth quarter of 1997, though it recently posted quarterly earnings roughly equal to those reported in 1997's fourth quarter.

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