Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (7678)	4/22/1998 1:22:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

I am going to have to get another ISP. I could not log in since later in the afternoon yesterday. I monitored IBM, HWP, and CPQ on the tape. IBM had the 100K+ blocks in force on the tape yesterday unlike my previous examination of the tape that posted. In the first part of the day, there was allot of very large block selling. Later in the day the large block selling abated to allow the price to move up. Even though there were series of very large block purchases, I think the smaller blocks along with normal speculative transactions helped move the price of this stock up. The quality of buying in this stock was not as good as the price rise would lead a person to believe. Today it looked like there was a gap up, a blowoff, and then a retreat of the price at the start of the morning. No surprise here. The price action had outdistanced any support from the lack of quality buying, and this appears to be the result of the speculative forces that have been in control of this stock since the latter part of yesterday. Now the stock has broken through intraday support and is relatively flat. I will see if any renewed buying comes in, particularly the very large block kind, later this afternoon. But so far I would say there has been a net dumping of this stock by the funds to at times a mixed buying and selling activity by the institutions. CPQ yesterday showed excellent quality of buying with many very large block transactions (100K and up) on the tape. The institutions are definitely accumulating this stock. CPQ met an intraday resistance that held the stock price back which masked the quality of buying in this stock. So today it comes as no surprise to me that the stock broke through this area of resistance and headed up. This stock wants to go up. When it moves up, it encountered additional large block purchases. Another look at the chart continues to confirm the quality buying that I have been seeing. HWP has not been seeing the very large block transactions like the other two stocks have. The largest blocks have been around 50,000 shares. The quality of buying is not anywhere close to that of CPQ. But from what I can see, there appears to be a net accumulation. I will post more later today. What have you been seeing, Judy? Bob Graham