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Technology Stocks : Compaq
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To: Night Writer who wrote (95135)2/6/2002 8:32:20 PM
From: Elwood P. Dowd  Read Replies (2) of 97611
 
Re: EXTREMELY low trading volume today.
by: skeptically 02/06/02 08:26 pm
Msg: 272573 of 272574

re>What would you expect bears to say?<

Who ate my porridge?

Seems to me like the big money is pushing one way here. Down. Not necessarily on CPQ though as the arb money seems to be coming back. Still looking for a FTC ruling on the "deal" and that may bring in more arb money.

For the market though(just looking at the NAZ), a gap at 1848 was filled yesterday and the sights are now set on the next unfilled gap down at 1759+. Also a 50% retracement of the run from the Sept lows to the recent high of ~2100 is around 1744(I think).

As the big money(trading)is so damn big now(commercial banks own the street now, as it was long ago[pre-depression days]), it can do pretty much as it damn well pleases.

So look for 1750ish on the NAZ.
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