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Technology Stocks : Adobe (adbe) opinions

ADBE 319.89

+0.6%

9:41 AM EST

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To: Patrice Gigahurtz who wrote (2420)	7/29/1998 4:55:00 PM
From: El Ferna	Read Replies (2) of 3111

Barring some bad news from the company which has not been revealed, it seems like short traders are having a field day with ADBE. From late June to just before the July options expiration date the stock was beaten down from 45 to below 40 and then as July expiration was upon us the stock popped back up to around 40. After drifting around 40 for a few days, it seems like the traders are trying to pound it back down to 35. You could say ADBE is correcting along with the rest of the NAZ, but ADBE is getting pounded worse on average than most stocks. On top of that, while ADBE dropped from 45 to 36, the NAZ has actually gone up. I've unfortunately seen this happen right before a company announces some bad news as this news was slowly leaked. Somebody inside the company or industry needs to shed some light as to what is going on, if they know anything. A 20% drop is nothing to sneeze at and the pain is getting deeper. Trader Jim offered some hope but unfortunately as soon as he spoke a couple of days ago, the stock broke support at 37. Where next? El Ferna

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