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Technology Stocks : Dell Technologies Inc.

DELL 122.55

+4.4%

Nov 21 9:30 AM EST

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To: Jonathan Cleveland who wrote (128590)	5/25/1999 6:26:00 PM
From: Eric P	Read Replies (1) of 176387

Jonathan: Does anybody agree with me that there is support at 35. Double Bottom. The july 40 calls look good so do the June 35/40. Any thoughts would be appreciated. I agree that there was good support at 35. Watching DELL today, I noticed the stock bounced off of the 35 support at around 10 AM and went back up. Later in the day, it came back down and bounced off of 35 again before 3 PM. Finally, after 3 PM, I noticed something I have absolutely never seen on Level II before: The combined size of all bidders at the inside bid of 35 totaled over 700,000 shares. For the next 45 minutes, this strong support level and 700,000 shares held the market from breaking below 35. However, slowly the selling bore through the size on the bid. Finally, at about 3:50 PM, the last of the bids at 35 were taken out and the stock steadily dropped to 34 1/2 by the close. I think the support at 35 is gone and feel very confident that we will see 33 before we see 36. Good luck, -Eric

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