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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: TEDennis who wrote (11958)	10/25/1997 10:13:00 AM
From: John Kratus	Read Replies (2) \| Respond to of 18263

For the record, I covered the rest of my ZITL short position on Friday at 17 7/8. In the past two weeks, Z has been trading like a tech stock (rather than like the empty shell it is). If the techs pull a mini-rally next week, then Z could bounce up to 20 or so before Wednesday's conference call. I am still absolutely certain that Z will head to 0 over time. But I would rather make as much profit on the ride down as I can. I plan to reenter my short position when/if Z hits 19 5/8. John p.s. If you're looking for a good short, check out AOL. That bloated bag of pus has no earnings, subscriptions increases are slowing to near 0, its merger with Compuserve will negatively impact earnings for years, it's 80% owned by institutions, and it's trading at 100 times next year's (incredibly optimistic) earnings estimates.