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Technology Stocks : Apple Inc.
AAPL 271.84-0.4%Dec 31 3:59 PM EST
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To: Phillip C. Lee who wrote (16316)8/6/1998 9:04:00 PM
From: Sam Scrutchins  Read Replies (2) of 213177
 
I think somebody who are eager to get in are waiting until the final minutes.

Phil, what do you mean by 'final minutes?' Are you talking about iMac's debut or something sooner? There are still six trading days between now and then. For people to jump in now is a bit early if they are waiting until the end.

I agree with you that people are jumping in. I think investors are realizing what a good value Apple is and the potential for upside surprise when units sold in the first several days is announced.

Although there were times today when Apple looked sluggish and under distribution, it had an upward bias to the price and volume. The second consecutive day closing at its high is very bullish. BTW, Apple opening down almost a point on low volume after yesterday seemed weird and suspicious.

I think we are a bit before the 'waiting to jump in' phase ends,', but I'll wager that we will really see 'jumping in' next week. This stock seems to be setting up for an explosion that could carry all the way to options expiriation, if iMac sales exceed expectations. I still think we will touch or exceed 38 tomorrow, although we will probably pull back from it. Who knows what next week will bring upside.

Sam
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