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To: wlheatmoon who wrote (19856)2/16/1999 3:34:00 PM
From: John Pitera  Read Replies (1) | Respond to of 86076
 
yes ctxs has been getting hit as has CPWR and LGTO...those 3 are
part of the high PE software group that tended to trade in tandem.. in
Sept and Oct.

The ERP stocks...like JDEC, Sap and even PSFT I feel will be excellent
buys this spring/summer



To: wlheatmoon who wrote (19856)2/16/1999 9:40:00 PM
From: John Pitera  Read Replies (1) | Respond to of 86076
 
MKC, I see P&F'ers spreading the word:

Shares of Compuware (CPWR:Nasdaq) and Citrix Systems (CTXS:Nasdaq) slipped after a firm issued a report saying they were software stocks to short based on technical indicators.
Dorsey Wright & Associates wrote that Citrix Systems "reversed to the downside this week on its relative strength charts, suggesting that the stock will underperform. The weekly momentum is negative as well." It also said the stock was trading below its downtrend line and has give two consecutive sell signals. The firm's downside price objective is 69. Citrix Systems ended down 3 7/8, or 4.7%, at 78.
For Compuware, Dorsey Wright wrote "this stock is also trading below its downtrend line and has given three consecutive sell signals as well as made lower tops. The momentum is also negative." Compuware closed down 4 11/16, or 7.3%, at 59 7/8.
Despite the drops in both these software stocks, Wall Street analysts stayed put with their calls. "It's just a technical call that was put out at the right time," said one analyst, whose firm has not underwritten for either company. He said fundamentals for both companies remained strong and still rated the stocks a buy.


thestreet.com