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Technology Stocks : Applied Magnetics Corp
APM 1.140-2.6%Dec 26 9:30 AM EST
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To: Bosco who wrote (10452)11/21/1997 8:00:00 PM
From: fut_trade  Read Replies (1) of 12298
 
<<by the people shorting against the box (when the price was in the 60s.)>>

From wsj - online version

APPLIED MAGNETICS 10,527,746 9,316,049 13.0 1,135,618

Wow, it's 54% of the float. As I recall, when I checked the old short interest numbers, the short interest was roughly constant on the way up to the 60's, and the way back down -- when Vinik unloaded. A lot of the short interest accumulated in the 20's I think, after the crash. At any rate, I guess the shorts are confident that Applied Magnetics earnings are not on the rise.

Peter
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