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Technology Stocks : Seagate Technology

STX 258.21

-1.7%

Nov 14 4:00 PM EST

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To: David Jones who wrote (6107)	10/28/1998 2:33:00 PM
From: William Epstein	Read Replies (1) of 7841

David Jones; We are all juniors here and groping or we would be very rich and not crabbing. All I can do is reiterate that the specialist is shorting. The why of it is speculation on my part and I don't purport to represent that as a fact. However, I might point out that substantial short interest accumulation, in the volume that would interest a specialist, takes some time. If he tried to do it all at once he might tip his hand. That is the reason for all the stealth. It's like poker. When he has enough shorts (whenever that may be) he will make his move. You can be sure of it. He is not doing this for his amusement. There is a lot of money on the line. Another fact, 80% of all short interest is generated by specialists. So when we see a substantial change in short interest, up or down, the specialist has to be the main participant. Check bigcharts.com PHOTOMAN/William Epstein

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