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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Phillip C. Lee who wrote (8924)	2/28/1998 7:26:00 PM
From: Sam Scrutchins	Read Replies (1) \| Respond to of 213173

The April 22.5 Call is a good buy even right now with little money for fun. Phil, I wouldn't be too contrite about Apple's price right now. The stock has had a marvelous runup in a short period of time and is likely to be higher in the April timeframe. However, in the interim, the stock could very possibly take a hit, perhaps as low as 20 where there is great support. The following chart shows Apple with Bollinger bands and RSI over the last four years. The RSI is in an extreme overbought position. This shows up much better on the 6-month chart, but one needs 4 years to get back to where Apple was showing a nice upturn. One can see what happens time and time again to the stock when the RSI reaches this level. chart2.bigcharts.com I would let the next week or two play out before committing additional funds to this stock. It is clearly in an upswing with great momentum, but better prices may be available for the patient person. On Thursday I sold all of my calls for a hefty profit, and I intend to recommit shortly. Any downturn is likely to be brief, given the momentum, but could be sharp. I also hold stock for longer term appreciation. Sam