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

To: Elwood P. Dowd who wrote (95067)	2/5/2002 12:18:31 AM
From: Night Writer	Read Replies (2) \| Respond to of 97611

Amateur TA notes COMPX downtrend using 1/9 (2098) and 2/1 (1942). This is not pretty unless you are short. DOW downtrend using 1/7 (10300) and 2/1 (9943). At this point I think 2/1 may be the reactive high to mark the second point in the current downtrend line. CPQ Since the 11/14 run CPQ has made slightly higher closing highs at $11.65, $11.68, $11.80, $11.99, $12.05, $12.35 on decreasing higher volume days and backed off of the highs on lighter volume days. Using two daily highs (1/7 & 1/25) and lows (1/9 & 1/23), CPQ has a perfect rectangle with good volume indications. Heavy volume on the up side and light volume on the down side. CPQ closed above the rectangle on 1/31/02 at $12.35 with above average volume. $10.80 is the support area. A break below this support and the downtrend takes over. $12.28 is the resistance area. A break above resistance and the uptrend takes over. Was the 1/31/02 $12.35 close a decisive close above the upper boundary? I don’t think so, but I also think the formation is still valid. CPQ is fighting the market trend. Bottom line the Enron effect is sticking around. How low will we go? What will turn the trend around? Let’s see what happens. NW