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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (18625)	6/18/1998 1:27:00 PM
From: Judy	Read Replies (2) of 50167

Listen to the market ... I would be cautious on IBM and say calls at strike 115 is ambitious on a technical basis, 115 is the 50-day ema and a stock seldom penetrates a major support from below in a single attempt. Last quarter's earnings report showed slowing growth in all areas except the service area and I don't believe that alone can fuel an upward move in IBM. IBM may do a dead cat bounce should the DOW move up. But keep in mind that analysts usually do the obvious ... they downgrade stocks in a downtrend, and they downgrade the weakest first. Note the order of analyst downgrades for the sector ... GTW then IBM then HWP. CPQ should be next ... but they will probably hold off on DELL since every analyst that downgraded DELL in the past got pie in the face.

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