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To: Judy who wrote (142)	7/23/1998 7:49:00 PM
From: Bwe	Read Replies (1) \| Respond to of 389

Hi Judy. With regard to HBOC, Zacks just added the stock to their Z-100 portfolio. Here's an excerpt from the recommendation: ADDITION: HBOC 07/21/1998 Company: HBO & CO Price: $33.06 On 7/13/98, HBOC reported earnings of $0.17 for the second quarter, up 55 percent over last year's earnings of $0.11 and a penny above the consensus estimate of $0.16. Revenues of $376.7 million increased 29 percent over last year. Results benefited from strong overall business momentum. Total software sales during the quarter remained strong with software sales pipeline increasing to $1.8 billion at the end of the quarter. Analysts are raising earnings estimates for both current and next fiscal years due to expectations of continuation of current strong business momentum and higher operating margin assumptions. Earnings are estimated to increase 42 percent to $0.68 in the current fiscal year up from $0.48 last year and another 29 percent year-over-year to $0.88 in the next fiscal year. Judy, you'll have to refresh my memory as to when HBOC had a BC prior to this week, but the stock did have a BC the week ending July 17th @ $38 3/8. Last week, HBOC also had a High Pole at the Bearish Resistance Line (HPB) at $34 and that set the stage for future price weakness which occured today. The stock was down $5+ today on the following news: >>HBO & Co. (HBOC) fell 5 5/8, or 17 percent, to 27 1/4 as the largest U.S. maker of software for the healthcare industry said it agreed to buy Imnet Systems Inc. (IMNT) for about $270 million in shares. Imnet rose 5 3/16, or 32 percent, to 21 7/16.<< This news doesn't seem like the type of news that would trigger a 17% drop. What do you think, Judy? I was quite amazed at the large number of stocks that had huge price declines today on absolutely no news. Today's market action took a decent bite out of my portfolio. Back to HBOC, the stock is nearing major support dating back to 4/97 at $12. This Bullish Support Line is at $25. The stock has an incomplete vertical count downside objective of $19. There is minor support at $25 by way of the bearish support line so that $25 price levelis now critical. I'm going to be watching the stock very closely and a reversal at that price could be a good buying opportunity. What are your thoughts on the stock, Judy? Do you follow the stock closely? Hope this analysis was of some help. Maybe Jan could put the chart on this thread to highlight the points I made in this analysis. Take care, Bruce