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Technology Stocks : SYQUEST
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To: Michael Coley who wrote (6205)4/27/1998 8:10:00 AM
From: Vincent Gordon   of 7685
 
I saw syqt listed in Barrons as having one of the largest short covers during the past week. Over 3,000,000 shorts were covered during the past week. Is this a bullish or a bearish sign?

On its face the covering of three million short shares should mean that the holders of these postions have now reversed themselves and believe that the stock is going to have a runup and will stay there for a while. Obversely, there are still holders of over seven million shorts who are betting over twenty million dollars that the stock is going down and staying down. But I always heard that a large short position can be very bullish on a stock if it starts a run up. Earnings this week???
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