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Technology Stocks : Cobalt Group-(CBLT)
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To: Mike Petriv who wrote (100)1/8/2000 11:47:00 AM
From: M. Frank Greiffenstein  Read Replies (1) of 141
 
Jeff Vinik, the "short killer", owns CBLT

Per my research, Jeff Vinik bought CBLT prior to 9/30. Vinik is infamous for complicated trading ploys that wipe out short positions in a heartbeat. His work with AMZN stock is a great story. Taking advantage of the small float (this was back in the days when AMZN had a small float!), Vinik deftly moved large positions from margin to cash across a variety of brokers. One short position after another collapsed and fueled a rocket rise in AMZN from 10/98 through 4/99. Vinik knows how to create short squeezes out of thin air.

Of course, we won't know whether Vinik can do it again until we find out how many CBLT shares are shorted, and whether Vinik is increasing his position.

DocStone
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