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

To: soup who wrote (11652)	4/16/1998 10:15:00 PM
From: Phillip C. Lee	Read Replies (1) \| Respond to of 213176

It is a steady day for Apple, which went up only $1 3/16 but with huge volume (16.3+m), the second largest volume since August 6,'97. I think shorts were acting successfully on depressing the price. There are probably still 15m+ shares in short positions. It's amazing to me that they could control that well, conspiracy? Hmmm... Besides, there is another force that stops the price moving north, which is option's witching expiration on Friday, which forces a significant number of holders clean up their holdings. As long as short positions are well above 10%, they are going to fight with what they have, especially institutional managers. Well, it's like playing with fire, sometimes they will get burned, may not be today, but it could be tomorrow or after all options are cleared next Tuesday. Phil