IBM Message Board - Msg: 4225584

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Technology Stocks : IBM

IBM 303.24

+0.5%

2:07 PM EST

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To: Chris who wrote (2970)	4/27/1998 2:49:00 PM
From: David Lee Smith	Read Replies (4) of 8218

Look for a sharp decline in IBM! I have been following IBM because it looks like it will have a big move on the downside. Like other tech stocks, it should be hit by the double whammy of Asia and any sharp market decline. My technical analysis is confirmed by my fundamental analysis. I believe the sharp rise recently was due to a short-covering rally. Notice how volume has dried up. I believe the next move will be sharply down on accelerating volume as the stock moves down. My near-term (next six week target is 90 per share.) I have taken a position in the October 95 puts. Do you see the same thing?

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