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Technology Stocks : Walt Disney

DIS 104.47

+1.0%

Nov 28 9:30 AM EST

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To: Robert Page who wrote (1608)	4/24/1999 8:10:00 PM
From: MoneyPenny	Read Replies (1) of 2222

there are certainly a lot of short shares on DIS, in fact it still has the largest short position of any NYSE stock. (was supplanted one month by T) I feel this is a net positive for the stock as they have held on a very long time. There were a lot of large orders near the close on Friday, forcing it up 1 1/16 pts. There also seemed to be a lot more than normal negative postings on DIS. Really talking the stock down on Thursday and Friday on the bigger boards for Disney: Motley Fool, Yahoo, Seek, etc. The company has spent two years now making changes to the company that will carry and grow them in the years to come. This has made for heavy expenditures. Disney has also decided to return to its strengths in the movie area: children, cartoons and will leave the high stakes mega-blow up whatever movies to others. The park area had outstanding attendance but the high costs of the Animal Kingdom opening will drag down it's contribution to the bottom line.

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