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Technology Stocks : IBM
IBM 304.01-0.1%3:22 PM EST
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To: art slott who wrote (2280)1/26/1998 7:55:00 PM
From: Earlie  Read Replies (1) of 8219
 
Art:
Not as of the close. It broke substantial support at $99., hence $92 may well be the next stop.

As this market begins to discount the impact of Asian deflation, it will squeeze all multiples. With respect to IBM, no growth for two years, even as the stock price was doubled, also requires the unwinding of the growth expectation that never occurred. Sorry Art, but it will head lower, as will many other over-valued situations
Best, Earlie
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