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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: pass pass who wrote (3238)3/30/1998 10:21:00 AM
From: DanZ   of 6565
 
pass pass,

Yes, and what's your point? Short interest is nothing more than a sentiment indicator and has nothing to do with whether a stock goes up or down. The cumulative effect of all trades, whether they initiate short or long positions, shows up on the chart. It looks to me like VLSI is basing and a short position is highly risky at this time.

Even though the short interest increased last month, it is still a small percentage of the total outstanding shares (2,735,517 short out of 46,892,000 outstanding = 5.8%). The number of days to cover is only 1.2 based on the average daily volume. Finally, the short interest reached 2 million shares in January, and that was right when the stock bottomed at 19 and subsequently rallied to 25.

Dan
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