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To: Kevin who wrote (11904)7/7/1998 6:13:00 PM
From: Billy  Respond to of 27307
 
There's only two reasons why it went down today:

1. People protecting their profits - not willing to risk a bad earnings number, or

2. People shorting it - expecting a "not as great as expected" earnings number.

It's obvious just by the price of the stock and premium in the puts that there's alot of people out there that think this stock is completely off the scale of reason. The chart is parabolic ! So, only the shorts with real big balls are going to hold through that announcement tomorrow after the close. I suspect the MMs will run it up tomorrow just to clean out some of the shorts prior to the big one.