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

To: Don Green who wrote (12422)	4/30/1998 8:14:00 PM
From: Phillip C. Lee	Read Replies (1) \| Respond to of 213177

My explanation to this stage is that the aggregate volume between $27 - $30 was so huge (87m if not counting repetitive entries during 8/6-8/8/97). Now, it's sort of waiting and shakeout game. Nobody knows how long we're going to stay at this stage. However, my guess on short's price range is between $25 - $28 with heaviest volume. Those shorts are also on the boundary of small loss or making even. They won't give up by covering back that quick especially those institutions holders. I am also surprised that they (shorts) hold the price very steadily even under such a good Q2 report. The most funny thing is that there still is analyst out there with estimate of Q3 near $0.12 (lowest estimate for Q3 based on Yahoo's Detailed Analysis table.) Now, Apple was traded at PE of around 20 for expected earnings. I don't know which companies have such a low PE at this moment. I know anybody who holds a short position is very unconfortable now and still hope the price will drop to his satisfaction. Well, the shorts are still the same as the longs, get stuck in the waiting game. I don't think Apple will drop significantly more from the current price level. However, it could go higher in any days ahead. Let's wait until the moment of breaking $30 for further comments on its future trend. Phil