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Technology Stocks : Applied Magnetics Corp

APM 1.380

-2.8%

Nov 14 9:30 AM EST

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To: James F. Hopkins who wrote (11481)	3/19/1998 6:41:00 PM
From: appro	Read Replies (2) of 12298

>>..if for no other reason than she is over shorted. It never fails.<< Back when the price had plunged 50% from $60 to the bargain basement of $30 or less, short interest was climbing: 20% 4/97 exchange2000.com 30% 6/97 exchange2000.com 36% 7/97 exchange2000.com 40% 7/97 exchange2000.com Aug 13, 1997 Gave us this bold, now cold prediction: >>APM will hit 60 long b4 Feb. A short squeeze being the catalyst<< exchange2000.com History would not be complete without noting the day APM hit $345 on the ticker: exchange2000.com 43% 3/98 www1.bigcharts.com I do not pretend to understand the persistently high short interest on APM, but just like new longs buying to replace those selling, there are new shorts being sold to replace those covering. So far the shorts have been laughing all the way to the bank. Someday the situation will change, but it is damn hard to stand in front of a freight train with this kind of negative momentum. IMO

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