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

To: rudedog who wrote (54818)	3/25/1999 11:54:00 AM
From: Kenya AA	Read Replies (2) \| Respond to of 97611

Time to Buy Winners By James J. Cramer 3/25/99 10:59 AM ET I know, you are thinking, heck, why not buy something that's not up right now? Wrong! On days like this, I like to buy winners that are off a bit from their highs, rather than losers that ain't going anywhere. Stuff that I have been buying into the weakness these past few days, I am picking at if my basis is no good. Let's take the National Gift example. It looks like a lot of the retailer inventory is being worked off as the stocks are higher. I am picking at retail that I am underwater on. But I would much rather buy AOL (AOL:NYSE) at 125 than 3Com (COMS:Nasdaq) at 24 or Texaco (TX:NYSE) at 55, to mention a winner and two losers. Love the financials and the Net. And they are still well off their highs. You have to believe that Morgan Dean Witter's (MWD:NYSE) number keeps this group strong for the next 24 hours. By the way, didn't you love the way the papers played the Chase (CMB:NYSE) thing? The Journal stuck by its "Chase-to-do-a-stupid-merger" rap, as it said earlier in the week, even though this change at the top was meant to quell merger specs. The Times waffled a bit, but the paper of record, The American Banker, said what I heard, which was CMB ain't buying anybody big and bad. Period. (Yeah, I am long Chase. Yes, I don't think they are a bunch of morons waiting to hurt shareholders.) And, yes, I bought the Intel (INTC:Nasdaq). Darling Intel. I figure we are out of the woods on a Compaq (CPQ:NYSE) preannouncement by now, so I'm getting involved. Should you get involved? Yes, if you like it and believe the bull case. No, if you don't and think that personal computers stink. To me, I am wondering if they "stunk" but won't stink as badly going forward. In the meantime, telco-tech continues to outperform, and I have already sung the praises for that group. We still will have to get through the 2 p.m. sell hour -- that's when we tend to hear a little more bad news about the world -- and I am waiting to buy anything more until then. Speaking of great questions, didn't you love when Mark Haines on CNBC "Squawk" this morning said that we are hearing the same thing about the Serb soldiers as we heard about the Republican Guard -- canny and invincible? I don't know about you, but I always regard such naysaying about the U.S. military and positives about the ENEMY as a slap at something our country does right: defend itself. Thanks, Mark, for saying what no one else did: Maybe we do know what we are doing.