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To: KM who wrote (12955)	11/9/1997 8:31:00 AM
From: James L. Fleckenstein	Read Replies (1) \| Respond to of 27012

OFF TOPIC: Trufflette, I am not real familiar with the short game so maybe you would be so kind as to use your short Apple position as an example. The Apple longs are certain there is going to be huge news Monday that will forever change the value of Apple stock. You obvious disagree. At what point would you cover your short? The apple fans are saying there will be a huge "short squeeze" sending the stock price up but I am trying to figure out when that would happen, assuming there is indeed a strong upware move in price. Thanks in advance. Jim

To: KM who wrote (12955)	11/9/1997 11:54:00 AM
From: TechnoWiz	Read Replies (1) \| Respond to of 27012

Hello Trufflette: Personally, I would not want to risk being short AAPL at this time. I am not saying you're judgement is wrong, but the timing may be off. Right now I have quite strong technical indications that suggest a continuance of this rally that started from 15 1/2 area. If this is not a new bull move and ends up being the "C" leg of the ABC correction (in a bear mkt) where the "A" initiated at $12 and ran to $30, then this "C" leg could effectively run from $15ish to $35. I'd rather take a shot at shorting up there when and if it gets there and were display some inability to move any higher, rather than being caught short lower in the range. Two things bother me, (from a bearish standpoint). A. The blast off from the lows at $13 in July to $30 in August on massive volume was a huge surprise to everyone including Steve Jobs himself, it would appear. The sheer momentum of this initial move is enough to propel this issue to new two year highs on this current upmove, if we get sufficient follow through buying powered by surprisingly positive news. B. Steve Jobs is taking a calculated risk in re-involving himself with Apple. He does not want to go down the tubes and ruin his billion dollar reputation at this stage in his life, so he is treading very carefully. Apple has assembled a dream team board and quite frankly this stock has the feel that price is moving ahead of results in the same way that Sunbeam Corp did on the announcement that (Chainsaw) Al Dunlap was coming aboard to turn things around. That stock (SOC) curiously enough bottomed at 12, (close to AAPL's low) and has since rocketed to 50 and the launch volume for AAPL was significantly greater implying very wide participation. One other point, one of the shrewdest sages of this whole bull market is the Saudi Prince AW, who invested heavily in AAPL at about $18 some weeks ahead of time. I don't want to rain on your parade, but am just throwing in a few bones for you to chew over. rgds Wiz