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

To: accountclosed who wrote (6275)	11/7/1998 3:23:00 PM
From: William Epstein	Read Replies (1) \| Respond to of 7841

Antoine Roquentin; I am not sure that you really mean this to be debate however, there are several items, mentioned on your list that are incorrect. Item 1. You say that I said the stock was going to 14 but it reversed and went up instead. I never said that. I said, in 2 different posts weeks apart that my charts were showing me it could go, as low as, 13-14 but that I really wasn't sure of its direction, at that point. These were responses to direct inquiries as to my opinion. I hedged by specifying that it was my best guess. I made it clear in both posts that I am no guru but I do have an opinion. I thought I made it clear that I was speculating along with everyone else. 2. You say I am asking you to believe that the specialist shorted at 24-25-26. True! I am not asking you to believe anything. It is a fact. I stated my source and I shall state it again. BigCharts.com Go look at the interactive chart and select short interest before you sound off again. I also stated that it is confirmed by the Barrons short interest report 10/15/98. He added more than a million shares, short to the pot. Again, a fact. 3. You say, that I always have contempt for the specialist when he drops the price. Then ask wouldn't it be a wonderful opportunity for someone to buy? I agree, I made that recommendation to Raptech at 20 however, he waited a little longer and bought at I think, 17 and made a nice profit when he sold at 24. I wish I had been able to do it. I felt that the stock was nearing its bottom at that time . It bottomed the next day. Was I wrong? I wasn't completely correct but I was, I think, close enough. 4.You mention Ney again, as though I am a devoted disciple. I mentioned his books once or twice at the very end of posts when I was talking about something else. I also mentioned in my last post to you that his books make good introductory, background reading. I said then and I will say it again that he did not cover many areas. I also think he tended to proselytize. Nevertheless, I believe his main points are valid and his books, however flawed, give the reader some idea of the goings on on the floor of the NYSE and insider behavior within the large brokerage houses. You can disagree. But it seems to me by the time and energy you devote to him, in 2 separate posts, that you were more taken with him than I was. 5. You mentioned my bias in connection with Ney again. I'm sure that I have a bias. Everyone does. Having some bias about anything is human. There is no such thing as an unbiased opinion, even yours. 6. Say that I know nothing about the economics of the DD business but I recommend that people buy the stock. I have made recommendations on 2 or 3 occasions. On 2 occasions they were Alerts if you view those as recommendations. It's true, I don't know the economics of the DD business but I am learning by reading the posts on this BB and I don't try to debate experts in areas with which I am unfamiliar. That would be both foolhearty and unproductive. There were other times when I stated opinions but I always prefaced my opinions by saying so and also made it clear that it was my speculation. Those to whom I wrote understood me and were speculating as well. Have you forgotten their speculations? Where are your comments about their speculations? 6.You seem to believe that I am always wrong. The last call I made to David Jones was that the stock would reach 28-29 by early to mid Nov. Well, it is Nov. 6th and the stock closed the week at 28 11/16. Now, how far off am I? What what is your criteria for a satisfactory guess? By the way, that is still not a recommendation. Even so, I mentioned at that time, my charting technique wasn't all that accurate, short term. 7. I don't recommend to anyone that they buy any stock or even participate in the stock market. They have to come to their own conclusions but I assume that anyone on this BB is a stockholder or intends to be a stockholder or why the intense interest? 8. Although, you seem to believe that I am invariably wrong I seem to remember, being congratulated about making good calls, on more than one occasion, from more than one participant, on this BB. 9. Now, we all know it is easy to criticize. So I suggest that you start making your own recommendations and I can take pot shots at you but before you do get your facts straight! If you don't like my posts don't answer them or tell me I'm not worth your precious time as someone else did or maybe you wish to continue by making oblique snippets as others do. However, if you want to stand up and be counted, right or wrong, about the stock I will respect your opinion. I expect the nothing less. I STILL INTEND TO CHECK THE UPTICK RULE ON MONDAY AND I THANK YOU FOR BRINGING IT UP. PHOTOMAN P.S. I also mentioned that my charts show that this stock could go, as high as, 72 in about 2 years. No one agrees with me about that. Take a pot shot at that! BUT NOT ME. IT'S VERY GETTING OLD.