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Technology Stocks : EMC How high can it go?
EMC 29.050.0%Sep 15 5:00 PM EST
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To: John Carragher who wrote (5150)3/28/1999 11:14:00 PM
From: dennis michael patterson  Read Replies (2) of 17183
 
From Briefing.com tonight:



Tech Stock Analysis



Updated for 29-Mar-99

Instead of doing the normal Industry Briefs, today we are highlighting those stocks in each group
that trade at abnormally wide divergences from their long-term moving averages... Though strong
bullish momentum could carry these stocks modestly higher over the next several days,
Briefing.com contends that they are extremely overextended... As such these stocks are ripe for
corrective retreats of between 15% and 20% (over the next one to three months)... This is not to
say that the long-term outlooks for the stocks highlighted are in jeopardy... It's just that when
stocks move away from their long-term moving averages by extreme degrees, they typically
experience a subsequent period of backing and filling... Consequently, if you're holding these
stocks and have a short-term investment horizon now might be a good time to consider reducing
exposure.

Computer Systems & Peripherals

Stock
Closing Price (3/26)
Support(s)
EMC Corp. (EMC)
122 7/8
112/100-98
Sun Microsystems (SUNW)
116 1/2
96-94

I have no idea if we'll get below 110, but it would not surprise me. Once we get through window dressing, look out below.
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