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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?
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To: g_m10 who wrote (7635)7/2/1999 12:38:00 AM
From: David H. Zimmer  Read Replies (3) of 20297
 
Assume a trader went short at $35. When the stock dropped to $25, the trader could have "boxed" the short, i.e., bought an equivalent amount of shares without covering the short. Therefore the short is still alive. This technique is used when the short expects a "dead cat bounce". The long shares used to box the shorts would then be used to "cut the legs" out of the bids at the top of the bounce. Remember, to initiate a short position on a NASDAQ security one needs an uptick, an increased bid or a zero uptick to initiate a short sale. When a short is boxed, the shares that were purchased long are sold at the bid, a technique used to drive the price down, usually to lower levels than prior lows.

In short, CKFR has seen its bottom, IMHO.
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