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Technology Stocks : Seagate Technology
STX 259.14+2.1%Nov 19 4:00 PM EST
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To: muddphudd who wrote (6773)2/4/1999 4:51:00 PM
From: William Epstein  Read Replies (2) of 7841
 
muddphudd;

This is the sell off I have been predicting since last month. Typically, the specialist touches or pierces the stock's 120 day SMA which is now, 33 and then, reverses direction. He is tripping all those stop loss orders and wiping out the margin accounts. We started to see panic selling between 3 and 4PM. I think tomorrow morning or Monday morning there will be a blood bath accompanied by heavy volume. That would be a clear signal to purchase calls between 32-33! Confirmation should come later showing, a reduction of overall short interest which has been coming down slowly for the past 18 months. FUNDAMENTALISTS WHO READ THIS, TAKE NOTE!!!
PHOTOMAN
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