Compaq Message Board - Msg: 17129650

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Technology Stocks : Compaq

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To: Elwood P. Dowd who wrote (95548)	2/28/2002 2:38:13 PM
From: Night Writer	Read Replies (2) of 97611

Amatuer TA. El, Last nights stupid TA notes. QQQ trends follow the COMPX. The trend line points are on the exact same dates. DOW Downtrend broken on 2/11 after bouncing on 38% Fibo area. New uptrend line using 2/8 (9580) and 2/20 (9734). Possible double top!! COMPX downtrend using 1/9 (2098) and 2/14 (1877). Horizontal support located at 1701 (10/11/2001). Fibo 62% retracement area is 1667. We have a bounce off the 1701 support area. Starting an uptrend or a blip on the downtrend? OEX downtrend line using 1/7 (594) and 2/14 (571) Looks like a bounce off 545 or 50% Fibo area. Needs to take out the 570 area. Closed just over the downtrend line. CPQ downtrend using 2/4/2002 ($12.58) and 2/14/2002 ($11.68). Support at $9.80. The downtrend line furnished resistance at today’s high. The market looks better this week. It didn’t give back much of Monday’s big gain. It would be nice if the DOW would set a new high over 10,300 before dropping back again. At that point, I think a long-term uptrend line using 9/21/01 and 2/8/02 might work. On the flip side, the DOW could make a double top here. Not pretty if that happens! The COMPX is a different story. It has disconnected from the DOW. NW

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