Dell Technologies Inc. Message Board

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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: JH who wrote (75557)	11/2/1998 11:03:00 AM
From: JH	Read Replies (3) of 176388

OT RE: Triple top The Nasdaq 100 is currently challenging a "triple-top" resistance, thanks to the leadership in large cap tech stocks like DELL. I will watch closely to see whether it succeeds in breaking through resistance around the 1415 area (now at 1412). I have accumulated a small position in Nov1360 puts at an average price of $34 (now $20). My stop is at $17, which may be reached if the triple top breaks. Otherwise, I think I have a decent chance of recouping my losses (or even making a profit). Cracks are starting to appear in the semi-cap sector; AMAT, KLAC, and LRCX have all exhibited bearish reversal signals (doji tops, black candlesticks, and downside gaps) on downgrades by Morgan Stanley. AMAT, the bellweather, peaked on Friday at levels 67% above its recent lows only three weeks ago. This rate of ascent simply can't last forever. Today, I shorted December out-of-the-money calls for KLAC and LRCX because I believe that it will be very difficult for these stocks to rally to the strike prices of $40 and $17-1/2, respectively.

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