Read-Rite Message Board - Msg: 14984657

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Technology Stocks : Read-Rite

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To: Richard Rose who wrote (5013)	12/9/2000 5:23:26 PM
From: Stitch	Read Replies (1) of 5058

Richard, <<The massive covering could be construed as bullish long term - 12 to 24 months. It should be interesting to discover next month whether the stock was heavily shorted back down to these levels, though not necessarily telling.>> I agree with you which is why I bought in again early last week after a short foray in the stock earlier this year that saw me bail out a bit too early on the run up after the initial photonics announcement. They are making hay in the face of problems at SAE. I wouldn't be surprised to see their hand in the head market strengthen, perhaps even getting a much stronger position at Maxtor where SAE has always had the lion's share. If their base HGA business holds and continues to strengthen a bit (and it looks reasonably positive in spite of recent concerns about PC buying)I think they will stay positive throughout 2001. Question for Zeev: My take on Friday's surprise run up is that there are a lot of fingers on the buy trigger (read "high liquidity"). Think we will see a New Year's bounce as the dust around tech settles a bit and tax loss selling is over? Best, Stitch

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