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To: Night Writer who wrote (74419)12/22/1999 12:50:00 PM
From: MeDroogies  Respond to of 97611
 
I don't see the current downdraft as resistance. It is an overall market swoon. AOL, GE, etc....all the majors are taking a hit.
Looks like the heady GDP #'s have scared investors into thinking Greenspan is going to tighten at the first chance. I doubt it. When the #'s come in next month are lighter than expected, Al is going to continue to diddle.

In the meantime, CPQ continues to look pretty good, despite the pullback. Expect buying to begin in 1-2 hours.



To: Night Writer who wrote (74419)12/22/1999 12:56:00 PM
From: MeDroogies  Read Replies (1) | Respond to of 97611
 
With CPQ down 1/2, my options should be off 1/8 (typically that is how the #'s have rolled out).
Considering that....why have my options, which are trading pretty heavily, not lost any value? This is an extremely bullish sign. 28 is definitely a # that has been assimilated. I expect that resistance may occur at higher levels once buying returns....but 28 should be brushed aside once it starts again.


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