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Technology Stocks : Apple Inc.

AAPL 247.97

-0.2%

Jan 23 9:30 AM EST

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To: Dan Fleuris who wrote (22697)	1/21/1999 1:34:00 PM
From: HerbVic	Read Replies (2) of 213182

While I can't back it up with hard evidence, it appears to me as though the shorts, facing strong bidding, were trying hard to cover yesterday and reversed when AAPL failed to puncture 42. The odd thing about AAPL is that, just as the Mac OS is heavily outnumbered by Microsoft's nefarious OS, Apple believers are equally outnumbered by detractors. That makes it rather easy for shorts to build their own momentum immediately after a particularly successful buying spree when bidding volume is spent. Keep in mind that these investors don't hate Apple. They just have a preconceived notion that consumers will gravitate toward Windows and Intel. All the talk about a Windows monopoly has them putting their money on the side of the giant in this David and Goliath drama that is yet to be resolved. I'm afraid this trading pattern will continue with AAPL until the company shows sustained market share appreciation. The good news is that today will almost inevitably form a bottom for continued good news. A healthy unit sales report for the month of January will lead to explosive bidding as shorts scramble to cover. The bad news is that any bad news at this point will put us back at 32. HerbVic

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