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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Dave Shares who wrote (11441)	7/14/1998 6:31:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 120523

C & CPQ 56.625 is a respectable entry. With GM's miserable report, there will be a shift in the industry following funds that should bring some more volume to C and F over the next couple of weeks. This sector is slower to move than the tech sectors, and my near term outlook is for at least 58.625 (which is where is was a few days ago when they were fearing poorer earnings reports). My initial strike price is going to be around 58.5. The 58.625 is a local maxima, and if they are going to push through that I don't think it will be like early May (although I was hoping it would have today). But, if it does, I would look to sell before 60 (59.875 or so) as a profit taking selloff would occur there, and then rebuy on the dip for continuation up to maybe 62 (10% gain) or 64.5 at the most - that would be a 15% gain, which wold be huge for this type of stock. As for CPQ, I plan on holding through earnings, although I appreciate Ed's exit this afternoon as it was looking a little shakey. I set the mental stop at 33.875, but ignored it when none of the trades were larger than 15,000 shares and both the money flow and accumulation indicators were positive. Since there were 50 and 100k shares buys made earlier in the day I figured I would tag along with the big boys on this one. I'd like to see it run to 36, as I have been sitting on a block for some time and that would bring it to 50% gain from the initial entry. We'll see. lastshadow