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Technology Stocks : Seagate Technology

STX 259.14

+2.1%

Nov 19 4:00 PM EST

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To: David Jones who wrote (6127)	10/30/1998 11:05:00 AM
From: Robert Douglas	Read Replies (2) of 7841

I don't give much predictive power to charts and really wouldn't recognize a wedge unless it was my Jockey's riding up on me, but quietly SEG seems to be moving forward. If today's advance holds, it will be 9 up days out of the last 10. The analyst community is talking more favorably about Seagate and the inventory pressures are abating. How many weeks of inventories have been removed from the PC and PC component industry? This has had a devastating impact on pricing and profitability. Although clearly the over-capacity issues remain, they will not be quite so onerous now that sales will come from production and not stockpiles. I remain cautiously optimistic. -Robert

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