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Technology Stocks : Dell Technologies Inc.

DELL 114.44

-3.4%

Jan 30 9:30 AM EST

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To: Lee who wrote (75551)	10/29/1998 12:04:00 PM
From: JH	Read Replies (3) of 176388

RE: "triple-top" More precisely, the triple-top resistance level on the NDX is around 1410. Currently, we're at 1390, so it's another 20 points above. Among the large-cap tech stocks, AOL (not on the NASDAQ, but can be considered as a proxy for the internet stocks) appears to have broken free of its "triple-top" on its way to challenge the old highs. CSCO, DELL, MSFT, ASND all are exhibiting similar patterns as the NDX but are not currently at the triple-top price levels (all are lower). It feels like there is a lot of nervous end-of-the-month buyers out there, willing to pay high prices for NASDAQ large caps to hide the fact that their funds are over-allocated in cash. The very same people are probably itching to take profits once November starts. Herd mentality dominated by political necessity. Could reverse equally rapidly. Tomorrow (Friday) is the last day of the month. I predict that 1410 will be tested. Buy puts going into the rally.

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