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Technology Stocks : IBM
IBM 297.59+2.5%Nov 21 9:30 AM EST
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To: Robert Scott Diver who wrote (7627)4/17/2002 6:29:35 PM
From: Michael Bakunin  Read Replies (1) of 8218
 
I've only skimmed the press release and was pretty busy while trying to listen to the call. It seemed positive given market jitters which price action today telegraphed pretty well. I expect the stock to settle tomorrow a la INTC, whose stock did much the same going into earnings this quarter, sagging during market hours, popping after, then drifting.

I found IBM's protestations about their accounting practices tedious, but whatever you think of their accounting decisions, their disclosure is up-front these days. Regarding my initial thoughts on the preannouncement at Message 17302262 it looks like there's no change in GAAP SOP, that business was disappointing though not 'worst-case'.

FD: I picked up an April straddle today which I plan to cash out tomorrow. Given the AH quote and the INTC pattern, I barely break even, but I thought it a reasonable lottery ticket. Fingers crossed the stock moves hard tomorrow.

-mb
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