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Technology Stocks : Zitel-ZITL What's Happening
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To: TEDennis who wrote (7900)6/6/1997 9:10:00 AM
From: Timoteo   of 18263
 
TED-short covering. Depending on when you shorted, covering ZITL @ 19 might seem reasonable in light of the volatility. Say you got in @ 30; 19 looks pretty good. I typically don't ride stocks to the bitter end. Maybe I should. I shorted CLFY at an average of 53 or so averaging up from 48. Covered down averaged around 38 or so, thought I was a genius. Well, this spring it hit single digits. There are also many shorts who trade in and out on a regular basis. They may expect a bump up to short again, and I think they have until earnings are released to get one. With VVUS, I expected the stock was worth about 40 when it was 80, but covered and shorted all the way down to 30s. I don't know if I made more money that way, but sometimes you just want to get out of a position because of the sleep factor you mentioned.

Timoteo
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