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Technology Stocks : Zitel-ZITL What's Happening
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To: Gerald Underwood who wrote (1347)12/2/1996 5:37:00 PM
From: Larry Davis   of 18263
 
Gerald,
Was looking over a book that I bought recently, "The Motley Fool
Investment Guide." The following is written on pages 197 & 198
about shorting stocks:
"Short interest is simply the total number of shares of a given
security that have already been sold short. On the one hand, it
represents the amount of bearish sentiment in a stock. On the
other hand, short interest represents latent buying power. That's
because in the short-to-intermediate term almost every single
share already sold short will be bought back. The irony is clear.
While high short interest looks like a bearish sign, it's actually
a bullish indicator. Stocks with high short interest are bad to
short because:
(1) they're less likely to drop significantly due to the short
sellers impatient to take profits and
(2) they're ripe for the dreaded short squeeze.
We almost never, ever short any stock with more than 10 days to
cover. We prefer to short stocks whose short interest is 5 days
or less."

Unless things have changed, as of Nov.15, the short interest is
approx. 30 percent. Put some figures to this. It's interesting
how many days with, nothing but buys, it would take before all shorts
could cover their position. This could get very interesting!!!

later,
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