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

To: Art C. who wrote (2033)	12/23/1997 9:31:00 AM
From: DAN KACKLEY	Respond to of 8218

Art- more fun with charts! Another perspective, take a look at a weekly bar chart, draw a line across all the tops from august to now (excluding the suckers rally to 114) This is a negative sloping line with a current position of about 105 Next draw a line across the bottoms of april @ 64 and october at 89 This is a possible wedge pattern that will close in about 6-8 weeks Usually these patterns break hard one way or the other Of course I am projecting down and you up, it will be interesting to see what happens! Right now 105 seems to be a hard top, if we don't break thru it soon (watch out!) Right now the wedge range is between 105 & 97, my guess is we will be stuck here for a while Another factor for me is probability for up/ down momentum, I guess I don't see a lot of big hits on the positive side to really move things yet. On the contrary impact from the Asian crisis will (according to analysts) start showing up in first quarter about the time I think IBM will make a big move. Good luck Dan