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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (11647)	3/26/1998 9:57:00 PM
From: Greg Jung	Respond to of 12298

<< if there were any sages warning at that time? I certainly wasn't.>> There was the small matter of Seagate and Read-rite warning prior to the summer-fall run-up. Seagate warned twice then missed. Then they warned coming into the next quarter. A lot of APM, WDC trading was very profitable in the grace period before it hit them. Question is, how far can they go in the current climate before hard times hits again? Too tricky here for a good short or a long. I think the current rise in APM is shorts remembering they had this puppy short - not a bad play to have gone short and left it for long-term cap gain since fall 1996, is it? Actually, November +18 months takes us to April/May. I think the market will accomodate a better cover opportunity by then. Greg