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Technology Stocks : Seagate Technology

STX 278.47

+1.0%

Nov 6 4:00 PM EST

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To: David Jones who wrote (6201)	11/4/1998 4:57:00 PM
From: William Epstein	Read Replies (2) of 7841

DAVID JONES; I looked at the 6 mo. and 3 mo. charts and they confirm your figures. One peculiar thing noted; the 3 mo. shows that when SEG hit bottom Sept. 1 it was 26% below neutral and it is about 27% above neutral now. I don't know if that means anything except that if it turns around now and goes south the SMA stays flat. However, if it goes much higher or stays up much longer the 60 day SMA will start to rise showing an uptrend. Bollinger bands show the same thing. When it hit bottom it was just outside the bottom band and it is exactly the opposite now. We should get some answers through the next 2 weeks. As far as the spread from where it is to the lower band that is in keeping with this specialist's patterns. He usually drops the stock 10 pts. when he does it. I guess, that is what he needs to make his margin of profit. If he does not back off too much this time that would be another confirmation that the stock is in an uptrend. My guess is that he has got to go below 23 to cover most of his shorts or he loses money. Unless he covered somewhere and the charts haven't caught up. (I don't think so.) PHOTOMAN/William Epstein

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