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Jim (or anyone else on MetaStock-List)  please give me your opinion
about which channel DELL is in:

I draw a long-term channel with the support line running from the July
96 low through the lows of March and April 97.  The resistance line
runs trough the highs of 9/20/96 and 12/10/96.

A shorter-term channel can be drawn with a support line through 1/2/96
and 3/19/96, and a resistance line through 12/10/96, 1/23/96, and the
top of just about every trading day for the last week.  This short
channel is parallel to the 50-day moving average for the last two
months.

Question:  Which channel will DELL follow?  If it is the short-term
channel, then I should sell (or sell covered calls).  If it is
following the long-term channel, then I should hold.

My opinion is that DELL will follow the short-term channel.  Reasons:
1.  That one is parallel to the 50-day MA.
2.  For the last week DELL has been hugging the short-term resistance
line, and has been unable to break through.  This line has strength.
3.  With a PE of 34 it will be hard to grow at the steeper rate of the
long-term channel.