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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: T Bowl who wrote (7841)	1/23/2000 8:18:00 PM
From: Sarmad Y. Hermiz	Respond to of 9256

>> my guess is that the pop above $5 has given lots of knowledgeable people the chance to make some money on their way down... The extra shorts might be one reason we've seen it keep dipping back below $5 the last few weeks. My guess is that the panic won't happen unless it breaks well above that. << Well, I hope they are not too "knowledgeable". But they must be very gutsy, anyway. Because of this added short position, I am very curious as to whether WDC is still in a vulnerable financial position. WDC pre-announced $60 million loss. However, It is possible their cash flow was positive during the quarter. And if volume and price have been good so far this month, then they are that much farther from bankruptcy. And remember that still so far there is no 424B filing to sell the monthly 2 million shares that have been so dilutive. I am not reading too much into the selling at each pop in the stock price. Remember, Seagate was sold off for 20% drop. It is profitable, and rich in cash and assets. So its sellers are not "knowledgeable". They are just speculating, like the rest of us. Same with HDD. There is no financial problem there, yet it sold off by 15%. Here's to hoping the shorts will have to cover on the way from 12 to 15 (by April, this year).