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Technology Stocks : Seagate Technology

STX 258.21

-1.7%

Nov 14 4:00 PM EST

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To: EyeDrMike who wrote (7091)	3/14/1999 3:20:00 PM
From: William Epstein	of 7841

EyeDrMike; I have 1 more statistic that answers a nagging question. Namely, why was the last pullback so long and deep? I checked a 3 year daily, chart and what I saw was that just before the spike, in Jan. to 44 1/2 the volume accumulation was the highest on the chart. The spike was a least, twice the next largest spike on the chart. Remember, this is a 3 yr. period. The specialist had to be shorting into that VA. He was loaded down with enormous amount of short interest by mid Jan. It was higher than when he shorted at 56 3/8 in Feb. 97. He had to get rid of it fast, 6 weeks. Now we have finished the 8th. week of the decline and dishing out. Anyone who sells now is a fool.(hyperbole?) PHOTOMAN

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