InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 124.41

-2.3%

Nov 28 9:30 AM EST

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To: Ira Player who wrote (18798)	5/2/2000 9:22:00 AM
From: Hawkmoon	of 28311

Do not assume a large put open interest is bearish... Absolutely correct. Short positions must eventually be covered, adding buying pressure to the stock. Some folks go short because they think the stock is going down to zero. Others short because they see limited upside, and marginal downside, on the stock for a specific period of time and they think they can use the money they net from selling high to take on other positions in different stocks until such a time as they need to cover their short position. And due to the lack of recognizable buying pressure in GNET, with the fact that GNET is a second tier web portal stock, as well as the lack of Street coverage, I'm sure some shorts are looking at GNET as a piggy bank they can tap into without getting squeezed. That's why we need coverage (and large short positions in good companies sometimes can entice such coverage as people see the opportunity to make good money squeezing the shorts). We'll just have to see. Regards, Ron

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