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Technology Stocks : DELL Bear Thread

DELL 122.92

-3.9%

3:59 PM EST

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To: Lucretius who wrote (534)	4/23/1998 4:54:00 PM
From: Stephen M. DeMoss	Read Replies (2) of 2578

LT, The move by dell from 67-79 the first 3 days of this week, to me, was a classic blowoff caused by both shorters being forced to cover and the final market gasp. With Internet stocks giving up 4-6 per day the past two days, with Gold moving up 25+per ounce, with oil stocks one of the few positive, and with the breath of the market (even in this up move) being neutral to negative; and not to mention the all time high bull sentiment; and the Barrons article this week (Sell signal: did you read it?); I think we are about to correct as a market, and specifically Dell. I dont know about the head and shoulders but I think the MM's whipsawed the shorters the past two days, pulled in call buyers and now is ready to bring it down the 10-20%. Any thoughts? Steve D.

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