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Technology Stocks : Apple Inc.

AAPL 272.99

-0.3%

Dec 30 3:59 PM EST

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To: Linda Kaplan who wrote (12266)	4/27/1998 10:29:00 PM
From: Phillip C. Lee	Read Replies (1) of 213177

Linda, I don't know if Level II data reveals any such info. From my observation in these couple of months, Apple has gapped down at the beginning nearly 80% and above. I have been thinking why it consistently exists such a pattern. First, I guess institutions on east coast may be involved. Second, those institutions are heavily on the short side since short volume was not reduced much last month. As always, when it approaches to the noon time, Apple's stock starts to rebounce or at least to stabilize , when all institutions on the west coast start to be more actively engaged. Well, we won't be able to change this pattern but to the minimum, we know the reason why this pattern may have happened. Apple's not like Microsoft or Intel in term of market values, it's not difficult for them to control at least in the first 30 minutes. Phil

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