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

To: zalesky who wrote (19908)	3/6/1998 2:12:00 PM
From: Upstater	Read Replies (1) \| Respond to of 97611

Zalesky, I'd call this a buying panic, and it usually precipitates something know as a short-term top. Sloughing off INTCs bad news as media-induced hype and manipulation seems incredibly short-sighted to me. Asia is wreaking its ill effects and will continue to do so thru pre-announcement season. The incredible run up in techs right now is just providing shorts with an opportunity to get in at the top. A well known bull, Ralph Acampora, stated when the market was at 7200 that it would go to 8600-8700 before collapsing in the Spring down to 6000 because of Asian Fever. Acampora hasn't steered me wrong yet. I'm 10% short right now, 20% long, and 70% in cash. I care not a knuckle about missing out today. I'm still waiting for this to get a bit frothier before I go 70% short at 8650. Chicx