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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX)
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To: MeDroogies who wrote (545)9/14/1999 1:25:00 PM
From: ahhaha  Read Replies (2) of 1983
 
Short interest is coincident with price. It rises and declines with price because shorts on-balance gradually cover at lower prices and add at higher prices. High short interest implies nothing more than price. Maybe it implies there's lots of downside yet to come where the interest will decline. It is a major patzer mistake to believe that high short interest leads to upside action. Heavy short covering which is the hallmark of a bear market causes price to rise instantaneously, but there is no follow through. The price then declines on low volume more than it rose on short covering. This somewhat indicates downside price sensitivity. It takes a proper every trade analysis though to accurately assess such sensitivity.
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