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

To: Phillip C. Lee who wrote (16098)	7/30/1998 6:34:00 PM
From: Linda Kaplan	Read Replies (1) \| Respond to of 213182

In addition to short covering, I think people are going long right now to position themselves for the astounding debut of the iMac, and then for the next quarter results. So people are buying to be long at the right time, not just to cover. It's only two more weeks till iMac is born. I covered half my short position in another stock at a loss today. It closed on the downside so maybe I'll be lucky enough to get out of the rest tomorrow and maybe very lucky to not take a loss on the rest of the shares. I don't like being short for long periods of time, though I will do it when I am sure a company will ultimately fail. I don't think too many people feel that way about Apple any more. So people who do short mostly will do it anticipating a small disappointment that will temporarily bring the stock price down. There wouldn't be too many who would short Apple "forever" now, as I might a company I was sure would fail. Linda

To: Phillip C. Lee who wrote (16098)	7/31/1998 12:16:00 AM
From: Sam Scrutchins	Respond to of 213182

From these two days activities, the pattern is similar to short's covering action. I think the similar activity will last at least another couple of days and hence we have a chance to see its continuously moving up to challenge the yearly high. Phil, I fear you are right, but I hope you are wrong, very short term. I enjoyed a very nice profit over the last two days, and I sold all of my option positions when Apple hit 36 5/8 for the 3rd and final time. The stock just did not have any momentum late today, but it could reoccur tomorrow. My hope is to be able to enjoy a one point or so correction then reacquire options with a closer strike price. It may cost me. Sam