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Technology Stocks : Compaq
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To: Kenya AA who wrote (44864)1/24/1999 1:58:00 PM
From: Christopher  Read Replies (1) of 97611
 
TA Update: The market overall does not look good at this time.

I have said before that the DOW had created a Reverse Head and Shoulder and the new target for it was 11450. It looks at this point that the DOW needs to do some consolidation or a correction before it resumes to its new target. The DOW may retrace to a minimum of 8300 and it may get some support around 8700. The market is very volatile right now.

The NASDAQ has been losing momentum during this past two weeks. We could soon see a consolidation or a correction with the NASDAQ as well. This may have already started.

The nice thing about TA is that it does not guarantee you a 100% results as nothing else in this life can give you such a guarantee. However, if the picture changes then TA will alert you so that you can
prepare to cut your losses to a minimum or protect your profit if the market goes against you. Cutting your losses and letting your profit run is the way to make money in the stock market.

Concerning CPQ, use your own judgment and make your own decisions. This depend a lot on what kind of investor you are and how you feel about CPQ earnings and where they will take CPQ. Generally speaking, when the market correct then most stocks do correct.

Good trading,

Christopher

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