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Technology Stocks : Apple Inc.

AAPL 271.86

-1.0%

3:59 PM EST

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To: Eric Yang who wrote (8633)	2/18/1998 4:54:00 PM
From: Phillip C. Lee	Read Replies (2) of 213176

Eric, Today's market is remarkably strong after breaking $19.75, at which several attempts have been tried in previous days. Hence, there is no doubt after breaking $19.75, it is going to be a wide range from $20.25 - $23 to swing. I don't know what causes today's surge, but I think short squeeze may be part of the contribution. Obviously, the current Q2 outlook is bright but not today's major motive. As the price moves up in next couple of days, the more shorts will be rushed out. Therefore, the momentum will remain strong. The peak momentum will be around $22 where lots of short positions were built. The coming double witchings may affect the price either way and contribute a wide range of swings. The uptrend may carry through the rest of week, I guess. Phil

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