Kevin Linder;
I understand your logic. However, I will say it for the second time, I merely pointed out, in response to a query, that Seagate has the option to sell. I am not predicting what they will do or why they might do it. I stress, that I pointed it out meaning, that they have the option to turn the stock into cash at some point. That is, if they want to. I agree with your analysis but please reread my original post.
With regard to specialist activity. The specialist is not my specialist! I wish he were. I would be a very rich man, indeed. If you know this stock's history during the last 2 yrs. you also know that this stock would drop like a stone while the market was going up. Where was the Dow 2yrs. ago? This specialist doesn't need a declining market as an excuse to do whatever he wants to do with the stock. There isn't much doubt that in my mind that he controls price and indirectly, volume. We have seen the evidence within the last 2 mos. and I have pointed it out day by day and now, almost to the minute. The fact is simply, that he is shorting. He isn't doing it in anticipation of a rising price level (although, there may be a temporary rise I call, the shorting spike). If you wish to ignore that fact be my guest. There may be a market decline soon and maybe not but it has nothing to do with what is going on with Seagate's stock here and now. 80% of all short interest is executed by specialists. It is the primary tool they use to control price levels.
PHOTOMAN/William Epstein
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