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Technology Stocks : Seagate Technology

STX 237.49

-1.3%

Nov 21 4:00 PM EST

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To: Howard S. who wrote (6831)	2/10/1999 9:55:00 AM
From: William Epstein	Read Replies (1) of 7841

To All; The stock opens by gapping up to 36 1/4 on 82,000 shares. Then immediately starts moving down fast to 35 3/8. At 9.37 there is a buy order executed and the sale is at 36 1/4 but then the stock immediately returns to 35 5/16. So, those who wish to buy have to buy above 36 right now. This trap door effect is something I have seen before in many stocks when the specialist or MM is reserving the bottom for himself. These wide swings are a characteristic of bottom. SEG usually trades in spreads of 1/16-1/8. PHOTOMAN

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