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Technology Stocks : Computer Associates -- Ignore unavailable to you. Want to Upgrade?

To: gbh who wrote (2889)	8/6/1998 5:38:00 PM
From: rupert1	Read Replies (2) \| Respond to of 5232

Thread: Anyone think there will be a retracement after this bounce or will the retracement come when the bounce goes to $44? If so what will the retracement be? As you know, I am not a pessimist having decided to buy it a few days ago, but this is the first real bounce since the debacle (the one or two day bounce from $37 to $43 was a hesitation on the way down to $30). Some bounces recover about 50% of the original drop - which would take us to about $44, and then there is a retracement of approximately 50% - in this case back to $37. But if the bounce is only to $38-39, then the retracement will be about $34-35 which should be a floor (but it could re-test the lows of $30 in a difficult market or with bad news). None of this is scientific, just my own rule of thumb. I would appreciate more informed comments. I am a believer in the fundmanetals of the company and expect it to go to $65 within twelve months but it is a wonderfully volatile stock and we might as well try to make money on the volatility. Victor