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Technology Stocks : Seagate Technology
STX 312.28-1.9%Jan 14 4:00 PM EST
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To: Mark Madden who wrote (7336)10/26/1999 2:03:00 PM
From: DJBEINO  Read Replies (1) of 7841
 
26-Oct-99 11:44:24 A faithful group of supporters are keeping Seagate in
positive territory this morning. The stock has edged $3/16 points higher
to $27 1/4 despite a solid presence of sellers today. e pre-trade market
shows a myriad of brokers advertising to buy blocks of stock at $27 while
several sellers have materialized with offers ranging from $27 3/8 to
$1/2. The post-trade market indicates that the sellers are actually
executing more trades in today's market - there have been 418,000 shares
claimed by sellers while just 340,000 shares were booked on behalf of
buyers. This suggests the sellers are initiating the trades but buyers
are stepping up to take the offers. (This is in contrast to when sellers
initiate trades and buyers back away, forcing the sellers to chase their
price lower and thus, pressure the stock.) As a result, SEG has managed
to stay on the plus side - we would look for a continued stream of fresh
super bids to indicate buyers remain active. Also, neither buyers nor
sellers look particularly aggressive today which has resulted in a
relatively calm trading pattern. Should institutions on either side
decide to step-up their efforts, SEG could break out of its relatively
narrow trading pattern.
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