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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (37039)11/20/1998 12:20:00 PM
From: Kenya AA  Read Replies (2) of 97611
 
Hi El and all of you on the Compaq thread,

I've been a lurker on this thread for many months and am finally giving in to my "urge to post". I've never posted on a message board before, so please be kind and don't jajajajaja me too much.

I think you're right El. I'm into TA and I feel that CPQ is doing some mini base building here at the 34 level. Everyone should remember that CPQ has moved about 48% from it's 10/8 bottom and needs a rest. There's some major resistance at 35 but I think we'll break through it prior to the end of the quarter - sooner if management starts putting out some good press on the intensified direct sales initiative. I know this "back to the old highs" seems to be taking forever but CPQ screwed up big time and made a major acquisition since it's all time high. Once there is concrete evidence that the good old days are back revenue wise, CPQ should move like it used to.
Base building after a good run up is an excellent sign technically - a springboard for powerful upward movement. Many many people bought CPQ at these levels and have been waiting for a long time to GET EVEN. Once the people who want to sell get out, the resistance will dissipate and we can move on. It may take a few weeks. I know this sounds awful, but a 4-6 base is desirable for good future upward movement.

Well I guess I've shot off my mouth enough for my first post.

K

PS: Those of you who read IBD - have you all noticed how in the past few months IBD has really been trying to do a hatchet job on CPQ? Did it again today on B3. Whenever this paper uses an example of a leader they use DELL (which obviously Bill O'Neill is long) and whenever they need an example of a "laggard" they use CPQ as if these were the only two stocks in the universe.
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