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To: Alastair McIntosh who wrote (6416)7/19/2003 6:03:56 PM
From: Sarmad Y. Hermiz  Read Replies (2) | Respond to of 13403
 
OT >> re, any idea why the weakness WDC today?

It appeared that an institution sold approx 2 m shares on thursday, and same or another seller dumped another 3 m shares on Friday.

This is not unusual, and in the past has not been of predictive value.

There are lots of shareholders with 100% or more of profits in the past few months, and they generally do these periodic sell-offs prior to the Q report because they don't want to take the risk of a disappointment.

However, my own checks of disk prices convince me that the report will be better than the published estimate of 19c. Also, approx one month ago in a presentation, the CFO stated that the quarter was proceeding on track. So I had no hesitation in re-buying a few thousand shares on the weakness on Friday.

Just as an aside, I placed a GTC order to sell 10% of my position @ 15.30. In case I'm right.

Good luck with your buy. I personally am not at all concerned by the Friday sell-off.

Sarmad