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

To: NYBellBoy who wrote (12439)	10/31/1997 2:42:00 PM
From: Roger A. Babb	Read Replies (3) \| Respond to of 18263

BellBoy, it seems that there is a big buyer at 14 3/8. Maybe a large short covering. Does not seem logical, but it is happening.

To: NYBellBoy who wrote (12439)	11/1/1997 2:53:00 AM
From: Marconi	Respond to of 18263

NY BellBoy: My guess is the institutions are still holding--I was expecting an institutional rush for the exits today to settle the stock down. Maybe the polarization between the 2.6-fold that are holding the stock versus the 1-fold short remains. Maybe the gridlock is moving down the block??? I watched the trades quite a bit today and saw mostly sub 1K share trades, a scattering of 2 to 5K blocks. No 10's or higher. Best regards, MDR I am expanding my short position with puts. A rule of thumb is that stocks go down an average of about 3X's the rate they go up. This average figure applied (improperly) to Zitel individually, would imply a sharp drop is likely, not trickle as happened today; I would expect the sharp drop to be self-fueling. Z did not make any headlines today for the sub 2M trading activity--pretty much a yawner of a day.... I also cancelled some higher covers and put in sub-$1 covers to age for a while. Time will tell.