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Technology Stocks : NewCom (NWCM)
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To: trenzich who wrote (394)4/7/1998 11:39:00 PM
From: convicted felon  Read Replies (1) of 662
 
Trenzich, It sounds like to me like you have no Substance to your short position, almost as though someone told you to short this stock, you did, and you have no idea why. Furthermore, you say that the short squeeze did not happen but in fact the stock is 4 points higher than when I begun posting (I do agree it did not hit my target) For the long players: Today was actually a very impressive day. A majority of the volume came from blocks of 5,000 shares. At every level Jefferies and Company was leaning on the stock (short sellers) and institutions were buying the stock. Remember institutions buy on the way down. When you see stock being chased up it is usually by individual investors or short covering. Today you saw institutional buying on the way down and then some short covering at the end of the day when it became apparent that they would not be able to break the stock. Hold on, were on our way to higher prices. Trust me, wait for the earnings.

Good Luck to All

PS Look for Wedbush Morgan Securities to pick up analyst coverage of JAKK (Jakks Pacific) with a strong Buy in the very near future. My short term price target is $12.50 I also am short INTC and look to cover at $68-70 per share by April 17th. I also am begining to short AMAT
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