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Non-Tech : WELLS FARGO
WFC 84.71-1.8%3:59 PM EST
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To: Mr.Manners who wrote (1079)3/7/1998 10:42:00 PM
From: wiley murray  Read Replies (2) of 1281
 
Hi Kasha,

With the CPQ warning after the close Friday, you can probably pick any high flying tech stock. DELL was down 6 after hours along with CPQ which was down three. One or two strikes out for PUTS look good on DELL, INTC,CPQ,IBM etc.

My five day hourly chart on WFC is bearish. This is my favorite chart for short term TA indicators using leading not lagging indicators only.

As a group the banks are overbought. I look for a warning to come out on banks like CPQ, and INTC. The Asian market negative results are finally coming in which should start tanking the markets starting Monday including banks.

I put WFC right up there with DELL as the most volatile stock in the market.It would be nothing for WFC to drop 20-25 points in a short time, as you know.Good trading.
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