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

To: Elwood P. Dowd who wrote (23084)	3/23/1998 10:36:00 AM
From: billwot	Read Replies (2) \| Respond to of 97611

stephan-my Fidelity screen (FOX+) shows 23 13/16 @ 10:32 EST, low of 23 9/16, high of 24 7/8 billwot

To: Elwood P. Dowd who wrote (23084)	3/23/1998 10:47:00 AM
From: Hugh W.	Read Replies (1) \| Respond to of 97611

To all CPQ shareholders: CPQ now back to 24 1/16. Hopefully we can hit 24 7/8 again.

To: Elwood P. Dowd who wrote (23084)	3/23/1998 11:23:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 97611

Stephen; No mistake It did trade at 24-7/8 , here is my take on that. The 24-7/8 was a short sell by some brokerage houses to the Buy side Stop Loss that some shorters had put in. There were shorts who came in Friday in the 23-1/2 range and set stop losses up from 24 to 24 7/8..they got ripped off. I have in the past explained how Stops often get picked off and on the short side they make a ready market for the brokers, who depending on the orders they see coming in often short to them , as well as use them to cover their short if they have enough on the down side. Taht is what the daily spikes, and dips are mostly about. It's like a hidden spread. ------------------------------ Out side small time shorters are at the mercy of the brokerage houses, if not their own one of the others, any time they use buy stops..they can get by this if they go naked, which can be very risky..or they can buy calls to short against but most of them don't do that. The buying calls does not always protect them either. Some shorts who made money coming in short even at 28 or so..move their buy stops down, and even though they get picked off they still come out net ahead..if they don't get frustrated and jump right back short at a lower price, in short some got ripped off, others gave back some profit early this morning. Actually this looks like a pattern on the daily 5min chart that set in last week. I'm not sure how it will play itself out. Some day traders came in early at about 23-1/4 and 23-1/2 and are getting out at 23-5/8 or better, one or two nervious nellies sold stock at market this morning and only got 23..letting a few cover at that price..but you can bet no outside short got to cover that low. Some of them are covering now at 24 and 24-1/4 ..Cpq is moving aginst the market ticking up like I said she might do even while other tech stocks are getting hammered..this sure is not the kind of sign of weakness the shorts were hoping for. <g> I may have picked the bottom fairly good with my last buy we will see. The short term shorts with Buy Stops are not doing anything but donating money to the brokerage houses, and some day traders at this time. Jim