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Technology Stocks : Seagate Technology
STX 250.38-5.7%Nov 4 4:00 PM EST
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To: Ashley Campbell who wrote (6263)11/6/1998 8:30:00 PM
From: William Epstein  Read Replies (1) of 7841
 
Ashley Campbell;

You will notice that the specialist capped the stock today at 29 7/8. That is definitely the work of the specialist. He only went over 30 yesterday, to supply those huge blocks, take the opportunity to short and then brought it back down below 30, immediately. In an earlier post to Rob Grogg, when asked what would give me confidence that a real uptrend was under way I answered, if the stock went above 30 and stayed there for a while. 30 is the benchmark the specialist has set. He wants to keep it down for, his own reasons, a while longer. He is still capping the stock under 30. The very fact that he has capped the stock at all tells us he hasn't gone to the long side yet. Your concerns are justified.
PHOTOMAN
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