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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (2891)	10/13/1996 6:55:00 PM
From: dppl	of 132070

Hello Michael, J.G. Cordes posted interesting stats on another thread to the effect that current highest flyers in the market (relative to their 50 DMA) include DELL, CPQ and CPU and INTC. The familiar high flyers, ASND, CSCC, PAIR (even before the big drops) had prices about 25% above the average. CPQ and the aforementioned were about 40-55% above the moving average. I looked at the charts and historically this is about as good as it gets for CPQ and DELL... I still think CPU and CPQ will move a bit higher -- and CPU could move quite a bit higher -- though DELL is starting to look toppy. I still have the Nov purchase of April puts here on my front burner. I noticed lots of big block buys in semis last week. I don't know whether these are shorts covering or people who think the bottom has been hit, but I did see in Infoworld that DRAM is going back down already. There seem to be good buys in certain chip sectors however, C-CUBE being IMO still one of the best. Thomas

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