IBM Message Board - Msg: 2960612

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Technology Stocks : IBM

IBM 309.49

-0.3%

10:39 AM EST

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To: art slott who wrote (1997)	12/14/1997 8:12:00 AM
From: DAN KACKLEY	Read Replies (2) of 8218

To All: Dead Cats Won't Bounce! Be careful on this one, we had the largest weekly move this week for the year and ended on the down side. Support seems to be failing and I suspect there is a lot of call selling going on (a lot of 105 calls were traded) Remember 85% loose money on options, it will be interesting to watch the open interest patterns. I suspect a lot of the eternal IBM optimist will be buying a lot calls as we drift further down. To me this has the smell of a tech crash pattern like we had two years ago when you couldn't find bottom. I had a stock that went from the 50's to high 30's, tried to catch a bounce and it went to the low 30's, tried to catch a bounce again at the high 20's and the next day it opened at the low 20's. I don't think IBM will be quite this bad but if the bounces are minimal or of short duration "WATCH OUT" this could be a free fall right to the bottom! Dan

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