4/30 IBM stopped out. Re-entry 158-160; No better use of money than buy back stock? See Compaq or Lucent for better run companies (although IBM not bad, just overpriced like Intel). T1 Stop 162; T2 158; then trail down 4 points. NCR Short move stop to 30.5
4/22 IBM STOCK A GOOD RISK/REWARD "NEWS" SHORT: P1 SELL AT 154 (+12) OB
T1 STOP 161 T2 STOP 158 T3 154 and then trail down 4 points.
STOP PROFIT ON NCR SHORT AT 31 OB and trail down 1.5 points
4/18: Microsoft reported last night "good earnings".
Old news - SELL!!!!!
Day V3; CF; OI-T76
P1:103.5 OB/MSQQT 2.5 OB: Stop ~106.5 [4/22]
P2:107.25OB/MSQQA 3 OB: Stop ~111 [4/22]
P3:111.5 OB/MSQQB 4 OB: Stop ~116 [4/22}
If the market rallies to old high, MSFT upward potential is astronomical.
If analysts were REALLY looking ahead, they would see definite failures and earnings disappointments, and if the market corrects as we believe, its downward potential is atleast to 76
NCR shorting will increase in profit more and more.
We have long said that within one lunar cycle of the Jupiter/Uranus conjunction February 15, some of the high-technology price madness would slowly begin to disappear. We believe many Hi-Technology stocks including the giant Intel have hit their multi-year peak. Fundamentally, this will be a brutal year for many technology companies with declining, yes DECLINING profits. We will from time to time post some of our reasoning here, as well as archiving 1996 high-technology forecasts. In our opinion, it is way past time to TAKE PROFITS on many companies in this sector.
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