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Non-Tech : Invest / LTD
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To: Alias Shrugged who wrote (1293)7/23/1998 9:23:00 PM
From: Thean  Read Replies (3) of 14427
 
Mike,
HD's support at 42.5 seems inevitable as the gap will likely be filled. However, versus LOW, HD has held up quite well. LOW for comparison is at 38 and change. Therefore, I don't think if the street wants to trash this sector HD will be spared. I am thinking about entering a put on HD here.

CPQ's support could be 28 but this is not as obvious as others. GTW disappointed so CPQ could be under some early pressure tomorrow. I'd short something else like DELL for a box maker play rather than CPQ for greater percentage gain.

NKE - LT's old favorite, is coming back to life on the short lane again. Again, the key is 43 or else it is dead money.

The pharmaceutical sector may also be riped for some further profit taking but not the biotech. AMGN's blowout earning yesterday and ISIP's excitement seems to be able to carry the days for them. I would not short the development biotechs just yet.
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