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Technology Stocks : Apple Inc.

AAPL 272.55

-0.1%

Nov 14 9:30 AM EST

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To: Yiota who wrote (7948)	1/22/1998 9:30:00 PM
From: Phillip C. Lee	Read Replies (2) of 213173

Today maybe is the first day for Apple to get rally from now on. It seems the strong signal indicates Apple is going on the up trend. Fundamentally, this stock has been stayed within $20.125 - $29.75 between 8/6/97 and 10/17/97, in which the weighted average is around $23, and the cumulative volume is about 8 times of its total outstanding volume. It is believed that most of the short positions were built during later part of this period, hence the average of short positions is within $22-$23 range. In recent trading days after Q1 quarter report, there is a strong signal that institutions are accumulating the stocks. The stock has been maintained most at $19+ level. Today's volume plunge during the morning session tells us it is going to turn around. The big buy orders were kicked in around noon and the stock starts rally. At the ending session, short-term holders (daily traders) moved in to take profits and ended at $19.25. The volume was expanded to above daily average. I think the stock can easily break into $20+ level, but with a strong resistance around $23, near the short positions holding prices. If the volume continue to enlarge, then the waiting time to get into $22+ level will be shortened. Remember, my guesses are sometimes not as accurate as I want. Phil

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