IBM Message Board - Msg: 2944991

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Technology Stocks : IBM

IBM 289.94

-2.5%

Nov 18 3:59 PM EST

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To: Harry Landsiedel who wrote (1970)	12/11/1997 10:50:00 PM
From: DAN KACKLEY	Read Replies (2) of 8218

To all: Looks like it's down hill till 2Q98??? IBM as been rising since late 1993 with a yearly ranges of approx: 1993 23-31 1994 26-40 1995 36-57 1996 45-82 1997 64-114 This year and last year january was the start of a major down trend that ended by mid year. This is where the yearly lows were set,which could be a similar trend for 1998 Until the recent suckers rally to 114 IBM had been trending down from august to mid November. Breaking through 105 broke the down trend and probibally caused panic for the short sellers. Today we broke back thru the down trend at approx. 104.5 and closed at between 101 and 102 thus pointing to further weakness Given the current global weakness, IBM's price of 101+ with a long term moving average at about 67, I beleive we could be heading for a 1998 low between 65-75! Also IBM has a buy back plan in position, wouldn't they want to buy back at a lower price? Any Comments????

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