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Technology Stocks : HWP -- Hewlett Packard -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (2781)	12/2/1998 4:25:00 PM
From: mp	Read Replies (2) \| Respond to of 4722

I will attempt to answer your question on one condition. Take it in the spirit it is said since I am not really trying to influence anyone to my way of thinking, but charts have helped me do well in investments over the last 10 to 15 years and I find them extremely useful and highly accurate from a predictive standpoint, both in terms of direction and magnitude of stock price movements. What I see in the charts now (if you have to, only laugh silently), is the 50-day moving average (MA) line is going to cross the 200-day MA in a week or two. This is almost always a good predictor of a breakout within the following 4 to 8 weeks. 200-day MA is at 60 now and 50-day MA is 59. HP has already shot past these averages to 66 and fell and found support at 60. It did not crash through it which was good. Then it started small movements to rise from the ashes. This is usually a good entry point from which you can generally expect a 15% to 20% rise. But I am also the one who is greatly disappointed in this stock for its mediocre performance over the last 2 to 3 years and fundamentally saw no redeeming value. But the reasons I mentioned in my post may still make my expectation of a rise to 72-75 come true. So at this time I am holding. At least today, after I posted stock seems to have risen 1+ point which is good. Anyway good luck whichever way you play it. If you think this is all voodoo science, just ignore it and move on. My feelings won't be hurt.