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Technology Stocks : DELL Bear Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jim Patterson who wrote (528)	4/22/1998 5:13:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 2578

looks like we may start the blowoff tomorrow. DELL and the mkt have gotten WAY ahead of themselves. Mkt looked UGLY today. DELL ran up on decent (but not spectacular) vol. I would have expected much more vol on a 5 pt move. It backed significantly off its highs. We could have seen the top today as euphoria reached it peak. Consider this vol over the last two days is less than average yet the stock is up almost 12 pts this week? Can we say "blowoff" This very well could be the head of the head and shoulders pattern I've been looking for. Left shoulder was the run up to 72 several months ago. Neckline is 60ish. We'll have to wait and see. Glad I'm not short and just own puts. This mkt is squeezing every short in the business. It will make the fall that much more spectacular as the shorts have already had to cover!! :) -Lucretius