QUANTUM Message Board - Msg: 2886834

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Technology Stocks : QUANTUM

QNTM 9.210

-6.0%

3:56 PM EST

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To: scott harrison who wrote (6135)	12/5/1997 11:37:00 AM
From: Harley Morgan	Read Replies (1) of 9124

Four trades 3 at 26,500 on bid 24 3/4 and 1 at 50,000 on bid 24 15/16. I've been watching 15 minute delayed trades on quote.com these were approximately 11:10 to 11:12am. This looks to me like further evidence that short traders are taking bids at this level. Any speculation on short traders given the stock at $25. I believe previous posts put short position at +10M in mid-Novemeber. Given this level and the significant stock falloff, these traders may be risking further on a very profitable position from the falloff. Given the WDC/SEG situation they may think this stock should go to approximately $20 based on technical support levels. Probably not a bad risk if you've got a huge short gain from last month and the resistance on the upside price move in the short-term. At least they can easily cover their positions on modest upswings with little loss on the total position. I don't believe the long brokers can cover such a large outstanding short position if they want to sell short for the nearterm(IMHO). What do you think?

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