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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: LK2 who wrote (2248)	1/13/1998 9:46:00 PM
From: Jonathan Bird	Respond to of 9256

Who would've thought that APM would go up in price on such a lousy earnings report, plus an unusual admission by APM that the current outlook for the next two quarters is extremely bleak? Strange indeed. But it didn't actually go up. And its still making lower lows and lower highs for the past 6 trading days. As a short I really can't concieve why APM didn't get slammed today, other then to say it was short covering. But I was suprised to see that not dry up. And im worried that todays action might actract bottom fishers(not recognizing the short covering) thinking this is the bottom, which might further delay a decline. This earnings report had such a negative outlook with so much uncertainty I can't even imagine why anyone would be a buyer now. Jon Bird