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Technology Stocks : Apple Inc.

AAPL 273.85

+0.5%

Dec 24 12:59 PM EST

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To: Adam Nash who wrote (12480)	5/1/1998 6:43:00 PM
From: Don Green	Read Replies (1) of 213177

The Apple Chess Game Well Apple's price movement today was interesting. The volume was very light going into the last 90 mins. Then it began to pick-up at the stock's started to rise toward 27.5. Once that point was surpassed the buying really came in. Which implies short covering. When we reached 27 7/8 the stock stalled again. It slowing moved higher to 27 15/16 then a few trades went to 28 and another batch of covering.. I think the shorts are starting to weaken a bit. But as the overall market moves higher and Apple prices also move higher toward the day of reckoning at the breaking of the magic 29.75 price barrier. I imagine more shorts are being added. Hopefully one of these days we can get a strong gap up toward 29.25 which cause a ton of short covering. We almost had it the day after the annual meeting, but there was no follow thru. So now we need to make another rise to the 28 1/2 - 29 level and close there. Then a strong morning gap-up could finally pierce that Big wall of shorts at the 29 1/2 and 29 3/4. Once it is broken there will be an extreme amount of short covering. I would guess maybe 3-5 million shares will get covered in a very short period of time. Which should push the price up to the 30-32 level in a matter of mins. Then the shorts should regroup.. But they will be badly bloodied and victory will be ours... The shorts, profits are getting pretty slim, so stress is on our side. Good Luck until Monday. On to Victory!!!! Don Green

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