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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Daniel W. Koehler who wrote (7224)	5/28/1998 9:22:00 PM
From: Eric	Respond to of 19080

It is still too early to say which way Oracle will move based on today's move along. People are afraid of an earning pre-announcement. I believe the lastest down drift of Oracle stock is caused by short sellers. With buyers on the sideline, short sellers are having their ways. They push the stock down and cause the nervous hands selling along the way. When the stock reaches their target they buy to cover. Now the same nervous hands and some sideliners think the stock is on the way back, they join in and push the stock back up. Then the shorts are selling again... on and on. I think the stock will trade higher as we get closer to the earnings.. unless we get a pre-announcement. But even with good earning, the stock is unlikely to break above 30 by Jun expiration day. High open interests on Jun 30 call will keep a cap on the stock. Eric btw-today's move has anything to do with IBM's announcement.