Compaq Message Board - Msg: 5739855

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Technology Stocks : Compaq

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To: Night Writer who wrote (32890)	9/14/1998 12:10:00 AM
From: Lee Lichterman III	Read Replies (2) of 97611

This market is so volatile that predictions have to change by the minute. I went all cash in August and have only been doing short term trades ever since. As of now, I have a short term target of 1040 S&P 500, 8125 DOW or Wednesday as a top which ever occurs first. Then we should start the next step downward. Dependant on volume, breadth etc will indicate how harsh the next down step will be but a retest of the 7400 range is expected soon. This has nothing to do specifically with CPQ though since I am now doing only short term trades, I have been sticking mostly with the more volatile issues or OEX and other index option plays. CPQ needs to break out of this resistance area around 32 1/2 and has stalled here twice already. RSI is smack in the middle and the stochastic is showing signs of rolling over. CPQ needs to make an upward push quick and get some altitude before the market tries to suck it back down the 21st. Maybe the short term push in the overall market will do it. I am still on the bearish side of this market until I see some breadth on these rally attempts. The last few tries have been nifty fifty only rallies. IMO until the smaller stocks participate any rallies will be short lived. Good Luck Lee

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