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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: Mark Palmberg who wrote (2092)	4/2/1999 3:16:00 PM
From: Raptech	Read Replies (2) \| Respond to of 4298

Don't agree but following is an interesting contrary opinion on where T is heading! . AT&T: The Party's Over (T) Thursday, April 1, 1999 Option investor Bernie Schaeffer says the party's over for AT&T (T), at least for the time being. Stock in the telecom giant peaked on February 3 and fell more than 13% since then despite resistance from its 10-day and 20-day moving averages. These trendlines crossed on February 15, a bearish sign to Schaeffer. He also sees potential options-related resistance at the 85 and 90 strike prices, which he notes have accumulated "heavy amounts of front-month call open interest." AT&T is also lagging the overall market. Schaeffer tracks the stock's daily relative strength and compares it against the S&P 500. He sees no end in sight to a downtrend in this ratio that began in February and has been capped by its declining 20-day moving average ever since. "Despite the deteriorating technical backdrop for the shares, analysts remain bullish on the stock," Schaeffer says. He points out that 17 of 25 analysts tracking AT&T for Zacks give it a "buy" rating, and he notes this leaves scant room for upgrades to boost the stock. Schaeffer recently recommended buying the July 85 put (TSQ) on AT&T. So, does the recommended July 85 put look like a short term profit opportunity ??? Rap