Make that at least three of us! After holding CPQ for over a year, I bailed out in my IRA at $42 on 12/9 (without regrets so far) because of the apparent declining buying interest in CPQ and my feelings that the Clinton impeachment charade, earnings warnings, and options expiration would give us somewhat of an unsettled market and probably a down week next week.
I figured that these factors would give me the opportunity to buy back in at $35-40, but the ORCL earnings (these guys never warn or pre-announce, remember 12/8/97?) gave the Techs a boost, yesterday's close on CPQ was surprisingly strong (same for IBM), and there seems to be tons of buying support for CPQ around $40.
If I'm wrong and there isn't a pull back into the high 30's next week, I'm planning to get back in at the current level before CPQ runs away, since I'm still convinced that we'll see CPQ at $50+ before the end of January, along with new record highs on the Dow, Nasdaq, and most of the large cap techs. That's because in addition to the $75 billion or so still sitting with the mutual funds and in retail money market funds, we will have the usual humungous January cash inflows into IRA'a and 401K's. Any thoughts, particularly on CPQ?
David T. |
