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Technology Stocks : Compaq

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To: ed who wrote (13767)1/17/1998 7:23:00 AM
From: Satyr  Read Replies (2) of 97611
 
Why Cpq is worth 60 today on projected earnings of 2.69 when last Jan it was trading at 30-35 on earnings of 1.89
Perhaps it is near proper value now but the 80 of earlier was clearly overbought. As far as the Dow at 6500 goes if you accept the concept that the dow is in a bear market 6500 would take you down to the long term trend line that goes back to 1992. I think the run up earlier this year was without merit and now we are due to retrace. Of course i could be wrong.
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