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

To: Night Writer who wrote (95135)	2/6/2002 6:49:48 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Looks like CPQ is gonna get whacked tomorrow. Maybe Carly will have a positive comment to give it a boost. ]She appears on Squawk Box tomorrow. El

To: Night Writer who wrote (95135)	2/6/2002 8:16:48 PM
From: Elwood P. Dowd	Respond to of 97611

Walter...from today's WSJ by: shbrom Long-Term Sentiment: Buy 02/06/02 07:58 pm Msg: 272568 of 272572 Today's WSJ had an opinion piece by Holman Jenkins, a regular writer for that paper, which focused on the prospective HWP-CPQ merger. The article (on p.A19 of my edition) ended with the following paragraph: "Mr. Hewlett is a man without a plan. Nonrelatives of Walter would be living la vida loca to vote against the only idea on the table. Worse, retail investors can't even enjoy the privilege of passivity, since they'll now have to get off their duffs and send in their proxies to save Hewlett-Packard from the Hewletts and Packards. And whatever happens, we'll never know if the road not taken might have been even worse." From an earlier paragraph, "For his part, Mr. Hewlett has begun to whine a little. He first insisted he voted for the deal to make sure H-P got a good price for Compaq, figuring he could vote against it later as a shareholder. Lately, though, he has begun to claim he was misled into seeming inconsistency. He should have settled for the credit he would have deserved for wearing two hats well, as board member of H-P and head of a foundation whose interests are not synonymous with those of other shareholders." In sum, it would appear that Mr. Jenkins believes that Walter is acting out of self-interest (which personal interest is not in sync with that of other shareholders). Further, he has no firm plan to present, with financial schedules attached, in support of his belief that there is another route that HWP may take to ease itself out of its current predicament. Also, IMHO, he has presented specious arguments and faulty analysis of the merger advocates' position, which they have successfully rebutted. Finally, he has distorted MC's meaning by taking out of context a statement that Mikey made about the nature of the PC business (see an earlier post). IMO, this series of acts demonstrates that Walter's advice should be ignored. He appears to be motivated by personal greed rather than acting selflessly, as his fiduciary duty to shareholders requires; demonstrates a poor understanding of the merger financials; and stoops to "spinning" (and deliberately misrepresenting) Mike Capellas' viewpoint to his own advantage. Incidentally, the article also notes that analysts (like posters on this thread), come to "wildly opposing conclusions" as to "whether Compaq or H-P is more doomed without the deal..." CPQ Long

To: Night Writer who wrote (95135)	2/6/2002 8:32:20 PM
From: Elwood P. Dowd	Read Replies (2) \| Respond to of 97611

Re: EXTREMELY low trading volume today. by: skeptically 02/06/02 08:26 pm Msg: 272573 of 272574 re>What would you expect bears to say?< Who ate my porridge? Seems to me like the big money is pushing one way here. Down. Not necessarily on CPQ though as the arb money seems to be coming back. Still looking for a FTC ruling on the "deal" and that may bring in more arb money. For the market though(just looking at the NAZ), a gap at 1848 was filled yesterday and the sights are now set on the next unfilled gap down at 1759+. Also a 50% retracement of the run from the Sept lows to the recent high of ~2100 is around 1744(I think). As the big money(trading)is so damn big now(commercial banks own the street now, as it was long ago[pre-depression days]), it can do pretty much as it damn well pleases. So look for 1750ish on the NAZ.