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Technology Stocks : Dell's Daytraders Decision Site
DELL 146.68-1.7%Nov 7 9:30 AM EST
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To: DragonBoy who wrote (569)7/31/1997 4:11:00 PM
From: Candle stick   of 1124
 
A little news from the Bizinsider in the San Francisco chronicle today:

SHORT POSITIONS

--Dinging Dell: Dell Computer and all of the PC stocks have been poster children for momentum investing. But David Ryan, a portfolio manager for momentum-investing guru William O'Neil -- publisher of Investor's Business Daily -- says its momentum days may be over. Yesterday he told me that based on his read of the company's stock chart, "It has a very similar look to Iomega when it was at its highs. Iomega (which fell from a high of $54 to a low of around $13) was completely out of control.''

Now, according to Ryan, so is Dell, which gained another $1.38 yesterday to close at $82.25. But the stock was $20 a year ago. "And anytime a stock has had a four-fold move in such a short period of time -- and then has a 25 to 35 percent run up in a three-week period, and then falls as it did last week,'' a decline of 30 to 40 percent is possible. Ditto, he says, for the other high-flying PC makers.
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