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

To: David Jones who wrote (6201)	11/4/1998 12:01:00 PM
From: manohar kanuri	Read Replies (1) \| Respond to of 7841

I have to admit I bailed as well. No regrets. I wasn't in it for a 36 target (what kind of target is that anyway? hedging their bets?) and I'll be happy to get back in under 25. I think you and William have it right - this is going down before it goes up. There's something half-hearted about the upgrades that makes me suspicious. Shall we say - they lack conviction? Maybe they want to offload what they picked up a few weeks ago and want to wring as much as they can from the market upswing? Dunno. But on a fundamental basis I think it's too early to make a seriously bullish case for SEG earnings growth. When someone does do so in such a scenario, I'm happy to suspect their motives! I think a bit more of a shake-out in the industry, and more hard numbers from Asia and LatAm. Put another way PC sales will have to go through the roof to justify the spurt in DD prices across the board. There just isn't that much demand around the corner to justify .... blahblahblah. BWDIK. mano

To: David Jones who wrote (6201)	11/4/1998 12:33:00 PM
From: William Epstein	Respond to of 7841

David Jones; I'll look at the chart tonight. I don't have time today. PHOTOMAN/William/Epstein

To: David Jones who wrote (6201)	11/4/1998 4:57:00 PM
From: William Epstein	Read Replies (2) \| Respond to of 7841

DAVID JONES; I looked at the 6 mo. and 3 mo. charts and they confirm your figures. One peculiar thing noted; the 3 mo. shows that when SEG hit bottom Sept. 1 it was 26% below neutral and it is about 27% above neutral now. I don't know if that means anything except that if it turns around now and goes south the SMA stays flat. However, if it goes much higher or stays up much longer the 60 day SMA will start to rise showing an uptrend. Bollinger bands show the same thing. When it hit bottom it was just outside the bottom band and it is exactly the opposite now. We should get some answers through the next 2 weeks. As far as the spread from where it is to the lower band that is in keeping with this specialist's patterns. He usually drops the stock 10 pts. when he does it. I guess, that is what he needs to make his margin of profit. If he does not back off too much this time that would be another confirmation that the stock is in an uptrend. My guess is that he has got to go below 23 to cover most of his shorts or he loses money. Unless he covered somewhere and the charts haven't caught up. (I don't think so.) PHOTOMAN/William Epstein