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

To: rupert1 who wrote (50921)	3/2/1999 6:20:00 AM
From: rupert1	Respond to of 97611

Also from the Yahoo Club Thread, a CPQ TA. ________________________ It may stop here! csi_satyr (40/M/Bradenton, FL) Mar 1 1999 8:11PM EST Bear with me as I ramble. Our chart looked real bad. We broke support at $45 and again @ $42. We were unable to keep the price above the 50 day MA. I kept telling myself to sell but, as usual I didn't listen. Bad news was released (downgrades, soft sales.) This pushed us through support to land approximately at the 200 day MA, roughly $34 1/2. Market uncertainty, coupled with the Intel downgrade forced us down again. I think we can conclude that this stock is in it's on "bear market". DOW theory dictates that during bear markets prices may retrace up to 67% of the gains accumulated since the last bear market. Copmaqs last bear market concluded at 22 15/16. Therefore we have: $51 1/4 - $22 15/16 = $28 5/16 (increase since last bear conclusion) $28 5/16 * .67 = $18.969 (imputed maximum bear decline) $51.25 - $18.97 = $32.28 Calculated bottom. Today's low: $32 1/2 It may qualify. I am waiting for the chart to issue a buy signal before loading up but this formula prevents me from shorting at this point. good day all...