ONXX Message Board - Msg: 14185695

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Biotech / Medical : ONXX

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To: Paul Kern who wrote (536)	8/9/2000 8:52:03 AM
From: Paul Kern	Read Replies (1) of 810

Also, most of the shorting is by day traders. Some probably borrowed the shares yesterday morning, rode down a point, and covered or borrowed at the wrong time, the stock rose a point and covered. These shares don't show up on the brokerage books to be borrowed again until the next day. There are usually relatively few shorts, as a percentage of the float, who hold the position for weeks. They invest like longs --but on the other side. When a stock spikes up and all the publicaly held shares change hands in a day, that is not support. That's traders and the last ones in get burned. The really inexperienced traders can't face their own stupidity and become holders until the pain becomes to great or they receive a margin call if they were dumb enough to speculate on margin. Don't ask how I know this! Paul

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