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Technology Stocks : Seagate Technology
STX 266.87-1.2%Dec 2 4:00 PM EST
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To: Steve Research who wrote (6474)12/19/1998 3:53:00 PM
From: William Epstein  Read Replies (3) of 7841
 
Steve Research;

This my public response to your post. We have several confirmations about SEG's direction.
1. The stock crossed the 30 mark in first week of Nov.98. It had been capped below 30 since Oct. 97.
2. The stock crossed the 180 day and 120 day SMAs by the end of Nov.98
These are important long term averages. The stock had remained below them for almost 2 years. the 120 has remained level at 32 for a year.
3.The specialist conducted a short squeeze on the floor less than 2 weeks ago. That means, he is on the long side of the stock and he will brook no competitors.
4. Last week Goldman Sachs and Banc Boston made large block purchases. They are investment banking houses that represent the really big money. The money that never takes real risk. The banks, insurance companies and pension funds. They purchased within 1/2 point of each other. On or just above the 180 day SMA which has always run through the bottoms during short pullbacks. The stock is out of the can.

They're going to pump this stock up like a balloon to ridiculous levels and make their killing. They will do it over a period of months and years. Now all the players are on the band wagon except the broad public. They will be drawn in when the stock starts reaching new highs. Analysts will then start making recommendations like this is a must have stock that belongs in every sound portfolio. That's how the game is played. The direction is definitely long, as far as, I can see, going forward. All who own the stock now will see a profit. Even me. The specialist here, is just one of the players, the man on the floor, the manager. He is part of a much larger mosaic that is operating. I wish to emphasize that point. It also seems that Luxso has the crediblity on the Street.
PHOTOMAN
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