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

To: Mark Adams who wrote (11840)	5/6/1998 6:20:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 12298

Well I'm not all the way out I got some calls yet..my exit had to do with the market down trending more than with APM, I know she is over shorted...( going way back )..and feel there must be a reason so many never covered..and when they do she will pop..but this market has me being very careful, she is like hanging on a pivot point..and not near as liquid as she was a month ago. If the tide goes out I doubt there will be many that escape getting took down a notch or two. I'm not a bear..but just careful at these levels..I do not like to see the holdings in HUGE stocks being reduced so as the fumbdums can can catch a wave on the fast runners to window dress their navs..there is a limit to how much of that the market can take..( it's close to having the same effect on the market that margins do ) Jim