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Technology Stocks : Safeguard Scientifics SFE
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To: SPSEIFERT who wrote (3255)7/22/1999 3:59:00 PM
From: michael r potter  Read Replies (2) of 4467
 
Large drop in short interest not bullish. Perhaps the contrary. All those shorts covering means of course they bought to cover. That buying plus normal buying barely pushed SFE briefly to the low $70s, a little more than half its yearly high. Low short interest means there is not much future buying power from the shorts to help cushion a fall or exaggerate a rally. Haven't seen the numbers, did you mean that SFE had a large increase in short interest? That would of course be positive for the opposite reasons cited above. Mike
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