WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 151.32

+8.8%

1:28 PM EST

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To: Ron C who wrote (5169)	3/23/1999 12:57:00 AM
From: Bill Zeman	Read Replies (1) of 60323

Thread: Both of these down days have been on less than average volume!!!! All this means is we had a rare mismatch of small investor sell orders to buys. With no news and no volume, this means nothing!!! Only buying opportunity. I hope it does go into the low 20's just like this - with low volume. I'll increase my position if it does. It probably won't happen though. What seems to be the obvious scenario to explain the last two trading days is this: An options writer unloads or shorts 100,000 shares on Friday. This unleashes a wave of small investor panic. The option writer likes the weakness he saw on Friday so much that he still has not bought back or covered yet on Monday, so the small investor panic continues. Why cover when you can make more money? Sooner or later our unknown option writer is going to see such an irresistably low price that they have to cover or buy back. When this happens it will stem the tide of small investor panic. I doubt he will wait too much longer, so my dream of buying more stock in the low 20's will probably not come true. When the panic has ended, the price will stabilize but may not bounce right back up again. Bill Zeman 30 1/8

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