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

To: Lynn who wrote (42452)	1/6/1999 6:39:00 PM
From: Christopher	Read Replies (3) \| Respond to of 97611

Believe it or not, CPQ is doing extremely well. I have been sick which is why you have not heard from me yesterday. I mentioned couple days ago in two memos that CPQ was going to break to the upside of its Flag and close above 43.50 and it did yesterday. This is extremely positive for CPQ as it indicates that it is continuing its uptrend. The reason I mentioned CPQ closing above 43.50 because it is a resistant. Now it should function as a support. Yesterday's high was 44.1875. CPQ low for today is the same 44.1875 and this is extremely strong. CPQ today reteseted its old high of 44.75 and reached a new high of 45.375 but then closed below it at 44.375. This is very normal and not a cause for concern at all. You should not be disappointed at CPQ gain of 1/2 when the DOW had a very good advance. Since CPQ is retesting its old high of 44.75, for several days and sometime two weeks(I don't think it will be the case here, more like four to five days or less) it will close above and below that high few times and then break above it and continue its way up. This is usually the case most stocks act when they retest their old highs. All in all, CPQ showed a good strength today by staying at or above its yesterday high all day today. In my memos couple days ago I told you that I expect the DOW to go to a minimum target of 11450 during the next three to six months. I also told you that I expect a significant gains in the DOW the next few days. Between yesterday and today the DOW gained 360 points and closed above its Head and Shoulders on heavy volume today. This is extremely positive and the first step toward the goal of 11450. It is a good time to be in the stock market now as the DOW will be making significant gains. Good trading, Christopher