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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI
CCSI 29.32+4.6%Oct 31 9:30 AM EST
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To: musicman who wrote (5528)8/1/1999 10:33:00 PM
From: Ron Harvey  Read Replies (3) of 5736
 
In a flight of fancy I was wondering how I'd play this if I were short. First, you can be sure that I'd have a profit and most likely a good one. So if I were a really bold shorter, I'd feel comfortable with that cushion and be prepared to ride out any sudden surges north. But a lot of the less bold types probably don't want to see their profits erode, especially with a potentially volatile guy like CCSI, which, in the past, has demonstrated that it can jump in a hurry. They'll be tempted to cover. And with more upside action there could be other shorts energized to beat their brethren to the exit. (That's the category I'd fit in , I think.) I'm not suggesting anything like a legitimate short squeeze, silly predictions of which abound on numerous message boards, but enough additional buying pressure to lend CCSI more altitude.
The numbers are interesting, too. There are about (if memory serves) 3 1/2 million shares short. That registers as six or seven million Nasdaq shares in potential trades because of the double counting. So it doesn't take too big a percentage of current shorts to cover for the volume effect to become significant and then attract momentum players as gravy. This is why I'm finding CCSI a more than usually interesting stock to watch. . . And if I'm wrong, it's Irish's fault.
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