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Technology Stocks : Compaq
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To: Loki who wrote (39284)12/8/1998 6:14:00 PM
From: Kenya AA  Read Replies (1) of 97611
 
Loki: I agree with your assessment of the situation and what will happen. I think things will work out just fine. Besides, nobody cares about Clinton, they care about Rubin and Greenberg. Gore is a market neutral.

But .... the Market does not like "uncertainty". As I've said before, the Street pulls the trigger first and asks questions later. I try to be as objective as I can when trying to figure out what Market action is going to be like. It's like driving in traffic on the interstate - some jerk is always going to slam on the brakes in front of you for no good reason and there are endless other "highway" analogies. Today's volume in both the Nasdaq and NYSE were higher than yesterday and it was a down day. This pattern which has been going on now for a couple of weeks is big TA voodoo - BAD voodoo. Would I buy Compaq right now if I didn't own it? Nope. Trigger fingers are very itchy right now. My basis was 39-1/2 and the breakout was at 35 so the odds of my being under water again, considering the general market action, is better than 50-50. Hope to rebuy below my original cost - as you say "a buying opportunity". Compaq's pretty strong though, so I may have to leave a few points on the table for a few days of fresh air and a good night's sleep. <gggg> I do not believe that the stock will ever breach 35. I LOVE THIS STOCK!

K


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