HMT Tech..281% sales growth at a trailing PE of only 17 Message Board

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Technology Stocks : HMT Tech..281% sales growth at a trailing PE of only 17

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To: John Sikora who wrote (284)	9/3/1996 7:47:00 PM
From: grace	of 317

Harry: it seems that you look at the chart with closing price only. High and low would tell you the resistence of 20. Now, above 20, there is almost no resistence. But, have to watch out if this is for short covering. Young and John: I mentioned few days ago that short covering lifts up HMTT. Up to yesterday, I believed that. I cannot remember exactly that short positions on HMTT till mid July was over 800K shares. Someone may find the more accurate data from Barron's. I do not think that shorts covered significantly till yesterday. Now we need to answer Young's question (short covering or institutional buying). I would not know the answer. But, I totally agree with John's point. Relatively low P/E and strong growth, and growth seems continuing in forseeable future. Good incentive for institutional buying. I do not think that any single short postion reached over 20000 shares. There were transaction over 20000 shares, and 40000 shares. I believe these are institutional buying. I am cautiously watching out the volume increase. Since almost no resistence as Harry observed, I also bet that HMTT approaches 52-weeks high. Good Luck

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