Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: jont who wrote (3742)	8/27/1998 4:32:00 PM
From: Greg R	Respond to of 8218

Thanks, but I totally disagree with them. I got my bounce off the Center-line as predicted. It went all the way to $127.50 which was more than the $126.50 I was hoping for. There are three different vertical clue lines over the next two days. Individually, each of these would normally cause the stock's price to rise. Personally, I have no plans to try to make money on the upside (it is rare, but I have seen it spike down as well and with the market behaving the way it did today .....) I will be watching for the spike up and (especially on Monday) and be looking for a put. Thanks for sharing the link

To: jont who wrote (3742)	8/27/1998 5:11:00 PM
From: Arrow Hd.	Read Replies (1) \| Respond to of 8218

In addition to my concerns posted a few weeks back in #3706 we now are at or below some key technical levels. I believe, for instance, 1050 on the S&P is one of those numbers. If the Japanese market tanks overnight and their index closes significantly lower, a support level will collapse there too. Japan is still the largest concern outside the U.S. Today we had no snap-back. IBM is sitting on an important support level and depending upon what happens overnight our markets could gap down and IBM would probably follow. There will be reluctance to buy in and carry big positions over the weekend. This is a similar pattern to other downdrafts including 1987. If it breaks I would not have any confidence in any technical or fundemental methodology. I would be out of margin and have adequate cash in reserve. FWIW, I think the large caps that have held up, including IBM, will have to capitulate before this correction can reverse itself. A lot of small and mid-cap techs are already down significantly. But even if it all comes apart I would be a big buyer if it moves back down to the 108 - 110 area. Right now I am totally in cash as a capital preservation move. Probably too conservative but we'll see.