Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Elwood P. Dowd who wrote (58086)	4/15/1999 6:25:00 PM
From: Whys1	Read Replies (1) \| Respond to of 97611

El, Cpq has only tested 23 twice since July '98 - both times it didn't stay there very long, and therefore, IMO, didn't build a very strong base for support. Support at 20 is a bit better, although at this point getting quite old, and is even stronger (and older) at 17/18. I think a fair amount of traders may be playing this for a bounce, and we'll see some selling pressure if they get it, or certainly if they don't. The general market could confound matters if it corrects appreciably, but I see CPQ holding at least 20 under current conditions (possibly will hold at 23 with some good fortune). bigcharts.com (hope this works -- a 3 year chart with bollinger bands and relative strength indicator) Any good news (earnings?<g>) would obviously help and would relieve the downward pressure and assist in forming a solid base. Watch the relative strength -- it's very close to 20% now (lowest it's been in three years),if/when it hits 20%, that's the best indicator I've found for a bottom. All this is just my opinion, but buying CPQ anywhere between 20-23 should end up being a solid investment regardless of what has just transpired. Now all we have to do is keep the general market propped up! Whys1

To: Elwood P. Dowd who wrote (58086)	4/15/1999 7:06:00 PM
From: QuentR	Read Replies (2) \| Respond to of 97611

El, I-Watch showed strong institutional buying interest today. My estimates off the charts are: before noon 32M buy vs 12M sell, afternoon 23M buy 12M sell. I-Watch reported about 17M of this interest resulted in stock transactions. Buying in the afternoon was at about 23 1/2 consistently. My observations of I-Watch leads me to conclude that when stock supplies are adequate buyers tend to drive prices down and sellers drive prices up. These flucuations over a day are smaller 1/2 to a point on CPQ and the stock appears to drift up or down. Institutional offers tend to drive the stock to value of the offer. Short supply or over supply of the stock really moves the stock. IMO there was probably more buying today again reducing the availability of stock but not enough to make a significant move up. Hopefully we are getting set up for a good day. We are about due for a run up tomorrow by this thinking. This also assumes no more bad news and at least a steady market. Comments are welcome as I continue to evaluate the value of I-Watch. thomsoninvest.net

To: Elwood P. Dowd who wrote (58086)	4/15/1999 8:11:00 PM
From: John Koligman	Respond to of 97611

I'm not a TA guy Elwood, so can't help you much there, but I see a couple of posters have already made comments. I do think CPQ can sink a couple points further, but only if there is continuing institutional selling, along with a correction. We are heading towards 11k in the Dow, so any pullback should take CPQ along with it, but I really don't think there is much left to go. It's somewhat similar to IBM just before Gerstner was brought in, the stock sank to 40 (20 split adjusted these days), and everyone was ready to write the company off. Only problem is that they forgot the Fortune 500 ran on IBM mainframes <gggg>. Regards, John