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Technology Stocks : Apple Inc.

AAPL 258.33

-0.6%

Jan 15 3:59 PM EST

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To: Phillip C. Lee who wrote (16098)	7/30/1998 6:34:00 PM
From: Linda Kaplan	Read Replies (1) of 213182

In addition to short covering, I think people are going long right now to position themselves for the astounding debut of the iMac, and then for the next quarter results. So people are buying to be long at the right time, not just to cover. It's only two more weeks till iMac is born. I covered half my short position in another stock at a loss today. It closed on the downside so maybe I'll be lucky enough to get out of the rest tomorrow and maybe very lucky to not take a loss on the rest of the shares. I don't like being short for long periods of time, though I will do it when I am sure a company will ultimately fail. I don't think too many people feel that way about Apple any more. So people who do short mostly will do it anticipating a small disappointment that will temporarily bring the stock price down. There wouldn't be too many who would short Apple "forever" now, as I might a company I was sure would fail. Linda

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