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Technology Stocks : Dell Technologies Inc.

DELL 131.16

+4.1%

10:39 AM EST

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To: arthur pritchard who wrote (111242)	3/23/1999 8:44:00 PM
From: KM	Read Replies (4) of 176387

Several things. Overhead supply above 90. A lot of people bought for the earnings run above 90 and if they're still in, they're way underwater and probably want out. That makes it easy to short in the high 80s to 90s as you had last week. Rumblings among analysts, etc. that business is a little rough these days, witness the recent number cuts. No denial of it from Dell management. Big block sells and lots of smaller buying on the tape. Nasties from IBM, Compaq, etc. Plus, and I know that no one here likes this, but I respect the opinions of Mike Burke, Bill Fleckenstein, and Earlie and they're very bearish with solid reasoning. Now, today was interesting. It could not have been nastier. Dell took all the selling they could throw at it and seemed to hold around 36ish give or take a quarter. They were just pounding it. 50k size on the ask many times. It looked to me like the sellers wore themselves out. If there's some godawful thing tomorrow and it gaps down, I'm just wrong. Happens all the time.

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