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

To: Arthur Radley who wrote (13271)	12/8/1997 10:06:00 PM
From: Wayners	Read Replies (1) \| Respond to of 18263

On ZITL today, I think a large number of short sellers buy to cover stop and stop limit orders had accumulated to a point where the market makers were compelled to go through and clean them out. I think this triggered some panic with some other short sellers who came in and covered. The trend of course remains down for ZITL, but there is no evidence that today was the last of the "panic" covering of the weak hands. Anybody agree. I remain short, and not wanting to cover until below $10. May have to see $12 first.