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Technology Stocks : Phone.com [PHCM]
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To: ynot who wrote (251)8/14/1999 11:07:00 AM
From: xbrent  Read Replies (1) of 1080
 
PHCM closed up due to a short covering rally with about fifteen minutes to go. Most had assumed that the market would tail off in the last hour. But the DOW and the NASDAQ kept on charging. When that did not happen shorts covered at any price. The most important question is are new longs willing to go in at $100 or better. Short covering only drives a stock for a brief period of time.
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