Applied Magnetics Corp Message Board

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Technology Stocks : Applied Magnetics Corp

APM 1.640

+5.1%

3:59 PM EST

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To: James F. Hopkins who wrote (11342)	1/29/1998 1:57:00 AM
From: Jonathan Bird	Read Replies (1) of 12298

Jon; If your not looking the covering has started, I'm not reading that much into it Jim. Unless there is some external force acting on the stock(like news) then APM just tracks with WDC. APMs volume was still well below average. Hardly a run on the bank. And the whole secter is up today. Does that mean is was shorts covering the whole secter? What this does show is that the secter is looking forward to the earnings release from WDC. QNTM and SEG managed to go up(and pull up WDC) inspite of disasterous earnings. Lots of people hopeing the same will happen. Differnce is, now the sector is not oversold. And if we see much more upside tomorrow it could set us up for a big time fall. It's all ridig on WDC. In between earnings we always hear more from WDC about APM then we do from APM itself. Jon Bird

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