Apple Computer (AAPL): Analysis and Forecasting Message Board

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Technology Stocks : Apple Computer (AAPL): Analysis and Forecasting

AAPL 258.33

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3:59 PM EST

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To: Marc Newman who wrote (252)	7/13/1998 7:58:00 PM
From: Andrew Danielson	Read Replies (3) of 692

Charting AAPL, CPQ, and DELL side-by-side on an intraday chart, the MM "manipulation" stands out on AAPL. All three stocks follow a similar upward pattern to a temporary peak at 11:30EST (AAPL proportionally higher, but slope and direction similar). All three settle down for awhile, but it's clear that AAPL was under some kind of artificial stabilization at 33 5/8-11/16. While CPQ and DELL faded from 1:00-2:00 and then rallied clear through to 3:30, AAPL stayed within the same artificial two-tick range for nearly the whole time. Only after DELL and CPQ already peaked for the day did the grip on AAPL let loose and allow a small rally to end out the day. As others noted, it seems that the shorts are trying to stabilize the price long enough to get the hell out. I've never seen a chart that is as spectacularly horizontal as today's. What interests me, however, is that after the brief rally before the bell, AAPL took on the similar-looking horizontal pattern for the 20-25 minutes before the close. Did the shorts let out a little steam on the buying pressure before resuming their "stabilization," and will it carry over to tomorrow? How many shorts do you think are still holding on to AAPL? I'm not sure how old the 17 million figure is, but I suspect that a reasonable number have already headed for the exits during this past week of "carnage." Andrew

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