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

To: Lucretius who wrote (534)	4/23/1998 4:27:00 PM
From: Jim Patterson	Read Replies (1) \| Respond to of 2578

re: DELL appears to be completing the head of a nice little head and shoulders pattern on the daily. Nekline is around 62. I don't even want to begin to go into detail about how Early you are in even thinking about this kind of stuff. The stock was down one day, don't try to make a trend out of it. I will say, the Stock got to 79 5/8, I was expecting 80 on the break of 70 1/2, that is close enough. In light of the way the market has reacted to MSFT and GTW, I would say that the hype may be over. Here is one for you, The All time market top will be put in before the last Jerry Sinfield show airs. Hope no one is long the Internet. Jim

To: Lucretius who wrote (534)	4/23/1998 4:54:00 PM
From: Stephen M. DeMoss	Read Replies (2) \| Respond to of 2578

LT, The move by dell from 67-79 the first 3 days of this week, to me, was a classic blowoff caused by both shorters being forced to cover and the final market gasp. With Internet stocks giving up 4-6 per day the past two days, with Gold moving up 25+per ounce, with oil stocks one of the few positive, and with the breath of the market (even in this up move) being neutral to negative; and not to mention the all time high bull sentiment; and the Barrons article this week (Sell signal: did you read it?); I think we are about to correct as a market, and specifically Dell. I dont know about the head and shoulders but I think the MM's whipsawed the shorters the past two days, pulled in call buyers and now is ready to bring it down the 10-20%. Any thoughts? Steve D.