Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Michael Berkel who wrote (8881)	1/1/1998 12:51:00 AM
From: Rick Slemmer	of 9285

Michael: DELL looks like a good short if it can't clear its declining 50-day MA. The 30-week MA is still rising a bit too steeply for my shorting courage to overcome, though. Penetration of that MA to the downside would be my entry point for shorting. I'm also short CPQ at 55. I expect it to approach the 30-week MA and fall back to find its short-term bottom, possibly in the 40-42 area. I see solid distribution going back to mid-October, abysmal OBV, and much more down volume vs. up volume before the holiday respite. However... I also think we're in for a bit of a rough ride the next couple of weeks as the self-fulfilling January Effect kicks in (not to mention the Forbes cover and CNBC's eternally bullish slant). If the DJIA fails its next test at 8200, the bears will start to show up in a hurry. That will probably coincide with CPQ's test at 60 or 62, and I expect both tests to fail for reasons which aren't even remotely foreseen yet. The folks on the ZONA thread say that the company will fax you a copy of their white paper if you call and ask for it. From all reports it's simply a restatement of already-released corporate propaganda. Crikey - it's almost time to start the party! May 1998 bring you everything you want! RS

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