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Technology Stocks : Read-Rite

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To: CPAMarty who wrote (3724)	7/19/1998 10:43:00 PM
From: Dennis R. Duke	Read Replies (2) of 5058

I took a one year stock chart. Applied to it the increases in short interest. And found some interesting patterns. These are generalizations, but: October, 1997 short interest rose 9.04% and the stock fell from $25 to $20. December, 1997 short interest rose 15.62% and the stock fee from $20 to $15. May and June, 1998 short interest rose 39.9% and the stock fell from $15 to $7 and recovered to around $10. My rough conclusion is that it is taking increased %age increases in shorts to drop the stock $5. Could it be that the shorts have played this one for all they can get, and they will retreat in July? Only time will tell, but the activity and its effect on the stock price I thought was interesting to note. It strikes me that at $7 they found the bottom. Let's hope the shorts have yet to cover. As of June's report there were 6,294,610 shares held short. A buying panic would be fun! (-8 Dennis 8-)

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