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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: David Harker who wrote (5382)	7/8/1999 12:22:00 PM
From: Arrow Hd.	Read Replies (2) \| Respond to of 8218

Well it has run up a bit here. Back in June I posted that it would wander for a while which it did in the low 120s but once the street gets some feel for end of quarter shipments and we enter July it got this pop to the low 130s. Where now? Tough call. A lot of the targets were in the 135 range post split so to push well above that will require a huge quarter and then uplifts of analyst targets. This could happen but it will take us into uncharted territory and leave us exposed to an August correction. Again, a tough call but my instinct is that there is less resistance on the upside. No one is really selling here just waiting for the release. If analysts get more comfortable with the quarter and buy-side volume increases there could be a strong move up next week. A few months back someone posted an interview with one of the IBM execs in the storage business who spoke about a major new DASD system which, if I recall correctly, was coming out this summer so after earnings I would expect some new catalysts to assist the next leg up. All just an opinion of course and after significantly under-estimating the first quarter earnings and revenue I think my days of guessing the numbers are over too.