Joe Copia's daytrades/investments and thoughts Message Board

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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts

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To: Joe Copia who wrote (22972)	7/31/2000 2:46:24 PM
From: Bob Davis	Read Replies (1) of 25711

Joe, The longs are certainly not wrong in trying to "squeeze" any short position - its a fine old tradition in the market. I'm not sure how effective it will be, and I don't know of an instance when it has worked successfully. Do you know of one? I have no evidence one way or the other regarding whether the market-makers do, or do not, have a significant short position. In the last two weeks about 2.1 million shares have changed hands (5.868 million shares/2.8 to eliminate double and triple counts), which is definitely higher than the float as of the date of the last Q. The actual "source" of this stock is still a mystery. Some could be MarketMaker shorting, some could be the result of the recent velocity of trading, and some could be coming out of the proverbial woodwork. Good luck with the effort - it will be interesting to see if it works. Bob Davis The Napeague Letter

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