Compaq Message Board - Msg: 6453012

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Technology Stocks : Compaq

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To: S.C. Barnard who wrote (36751)	11/17/1998 2:48:00 PM
From: Night Writer	Read Replies (2) of 97611

IMHO, If investing long term, now is a good time. Don't worry about 1 or 2 points price difference. Short term, I think CPQ might dip to 30 one more time. If it does, I will be buying more. My opinion is biased by the Nov 30 Covered Calls I sold. I put my money where my mouth is. I also think revisiting 30 might cause a number of shorts to close out their positions at this point. The following news could kill the whole thought process. We could break $35. NW Federal Reserve Cuts Interest Rates Reuters WASHINGTON (Nov. 17) - The Federal Reserve cut key U.S. interest rates on Tuesday because it said financial markets were still suffering from unusual strains. The decision cuts the overnight federal funds rate to 4.75 percent from 5 percent and reduces the discount emergency lending rate to 4.50 percent from 4.75 percent. The central bank last cut short term rates in a surprise move on Oct. 15, when it cut both the fed funds and discount rate by a quarter-percentage point.

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