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To: Alomex who wrote (12715)5/5/1998 7:22:00 PM
From: Sam Scrutchins  Read Replies (3) | Respond to of 213177
 
I'd say it's going to take millions of shares per $0.25 uptick per share, just like today, up and until shorts chicken out and cover..

Alomex,

From your perspective, would you consider it plausible to see a gap on the opening tomorrow as the shorts panic and cover? Everyone has looked for months at this level as a psychological barrier. Given that it was broken today, and given that not all investors follow the market from minute to minute as some of us do, it seems reasonable to me that at least some shorts, and longs as well, will buy early tomorrow in anticipation of a runup. Steve may ultimately help or hinder this, but I would expect a lot of investors will buy based on the breakout. What do you think?

Sam



To: Alomex who wrote (12715)5/6/1998 1:20:00 AM
From: Marc Newman  Read Replies (2) | Respond to of 213177
 
<<I'd say it's going to take millions of shares per $0.25 uptick per share, just like today, up and until
shorts chicken out and cover..>>

It might just be up to the MMs. There must be tons of buy orders placed just above thirty and tons of shorts with their cover orders there too. If the price flicks up there, a lot of trades can be tripped.

And if that poster that Jim Kary linked to a few days ago is right, if Goldman Sachs wants it to happen, it will happen.

But having said this, I'm not necessarily looking for a break above thirty until Monday. I wouldn't be surprised if AAPL grazes $30 in the first half hour tomorrow though.

Marc