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

To: John Koligman who wrote (39826)	12/13/1998 9:09:00 PM
From: Elwood P. Dowd	Read Replies (3) \| Respond to of 97611

John .... I've been following your posts on the DELL thread. They are beyond reason over there. El

To: John Koligman who wrote (39826)	12/13/1998 11:03:00 PM
From: Kenya AA	Read Replies (1) \| Respond to of 97611

John: If you look at the intraday charts for CPQ, DOW, S&P and Nasdaq on Friday, they all have the same pattern - about noon they headed south, but then turned upward on the Clinton "news". Unfortunately, there was no "news". Since the judiciary committee has now passed the articles of impeachment, the Market has to assess the impact of the "worst case scenario" which would be that the full House will impeach (hearings start on Thursday), it will go to the Senate and the Senate will fart around with the case for months on end. Everyone knows that the Senate cannot convict - the votes aren't there. So for the next few days we'll probably drift lower. If the House doesn't impeach, we'll head north pronto. If it does, we'll be in a holding pattern until we know whether the Senate is going to hurry up and get this stuff over with, or are they going to dilly-dally. I think it will be the former and as soon as that is a "known quantity", the market will go up strongly. Compaq is finally in sync with the rest of the market. When CPQ was basing in the 34 area, I said that when we broke out above 35 on good volume, we would be good for at least 20%. That's just about what we got. CPQ now has to base again before moving higher. Coincidently the general market is doing the same thing. It's OK if the base is slightly to the downside. Between now and the time we "know" what's going to happen with the impeachment proceedings, we will base in the 41 area. Whether we go up or down from that base depends on the impeachment stuff. Interestingly, this might all gel around the same time that CPQ announces earnings. Hmmmm ... that could make for a double whammy in either direction or a stalemate. I'll be looking to get in below 39 intraday. K