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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Simon who wrote (6844)	6/25/1999 8:46:00 AM
From: jad	Read Replies (1) \| Respond to of 17183

EMC $53.00 -2.00 (-4.56) EMC dropped through support at $55.00 due to the announcement on Tuesday from IBM that they would release a new line of products to compete against EMC. The $54-55 range is where the stock had broken out from after a recent consolidation and we would have expected that to provide some support. But instead it traded down into the $52-53. Now EMC has shown considerable support at this level the past couple days and looks poised to bounce. Remember, earnings are around the corner and we feel the recent news is nothing more than a few gray clouds drifting by. But use caution ahead of the FOMC meeting next week and let your stops end the play if we break below $52.00. There was also no company specific news to report on Thursday. from options Investor Newsletter.