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Technology Stocks : Seagate Technology
STX 276.69+1.6%Nov 28 4:00 PM EST
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To: Raptech who wrote (5538)8/27/1998 5:05:00 PM
From: William Epstein  Read Replies (1) of 7841
 
Raptech;

Look at Seagate's abnormal volume. Unless the specialist wants to spark a huge sell off he can't go much lower. Even if these guys are wrong and he goes lower tomorrow it won't be very much lower. On a chart this price is near the bottom of the barrel. That's where guts come into play because most people are running for the hills and the bottom or near bottom. It is a strange phenomenon about human psychology that people jump in near the top and out near the bottom. There is a term for a sell off "capitulation". I'm sure you have heard it. It signifies the point that most investors give up and exit at a loss. Caused by fear. Also, I beg you to look at last month's short interest. This stock reduced short interest last month by almost 17%. Well, the specialist did it again. He is getting positioned to go long for the Fall.
William Epstein
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