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Non-Tech : Ashton Technology (ASTN)
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To: AJ Berger who wrote (2107)7/25/1999 7:58:00 AM
From: Keith A Walker  Read Replies (2) of 4443
 
AJ Berger wrote on July 20

scratching my head in disbelief

looks like someones using weakness
to accumulate shares before next
month. I was hoping to buy back
in myself cheaper, but would not
have figured on doing it on a
100pt down Nasdeq day...

AJ, I think the short interest explains some of this phenomenon. We can probably expect to see the shorts get caught as the indexes flounder. They will need to cover their short(s) when their long positions are getting hammered.

Think of it this way: ASTN now becomes a defensive position against a market downturn. Do not be too surprised to see ASTN go up, and up big, when the NDX, SPX or DJX are tanking. And visa-versa: do not get frustrated when ASTN heads south on big days for the indexes. It is all part of the short game.
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