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

To: rupert1 who wrote (54517)	3/23/1999 10:34:00 AM
From: Night Writer	Respond to of 97611

victor, know what I know now, I would sell Dell and buy back later, if I owned Dell. I also know that is a tough thing to do. I didn't do it with CPQ, and I should have. Isn't hindsight great! NW

To: rupert1 who wrote (54517)	3/23/1999 10:50:00 AM
From: Christopher	Read Replies (1) \| Respond to of 97611

Victor, 30 has been a good support for CPQ for two weeks now. CPQ in the last few days and today has been retesting the support at 30. It is very normal for stocks to retest support and resistance. DELL gapped down yesterday and GTW (Gateway) closed below its 50 dma(Day Moving Average). Believe it or not, Gateway has been outperforming both CPQ and DELL lately. However, both DELL and GTW are going down as they both have formed a bearish Descending Triangle and DELL already broke to the downside. This off course can't be good for CPQ which means that CPQ will probably break below the support at 30 and that could easily happen today. Now the good news. NASDAQ is forming a bullish Symetrical Triangle. It will probably retrace to 2300 and then go back to 2800(don't take everything literaly but as an approximation). Once it breaks above the Symetrical Triangle then CPQ will probably bottom out and start moving up again. Good trading, Christopher P.S: Remember in my last TA I said that 30 was support for CPQ but that it had to close above 35.50 to reverse its trend and this has not happened.