<<keep/trade CPQ stock --- strange world today!>>
Strange indeed John. Now that I own CPQ, I have noticed this is a great stock for trade. Not sexy or wild like DELL, but still very tradable in the current range 27 - 29.50. In fact, I have done it once
already with a portion of my holdings. I am back in today at $27.50, plan to sell again at 29. May even start selling covered calls. Problem is the premiums are not rich enough (bad sign).
Seems like good support at 26, great support at 24. First resistance at $30, major at $32. My TA friend tells me he does like the chart for the fact that since last October, every time that CPQ has moved, it has made lower Highs. The recent high being at $32.
Considering all the negatives from IBM, HWP, SUNW, etc. I think CPQ has held well. Afterall, they are not even going to make any money in Q2. We shall see how well/quick this management executes. I am still bullish long term, although Asia and this market makes me very cautious.
Good luck,
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