XLA or SCF from Mass. to Burmuda Message Board

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Technology Stocks : XLA or SCF from Mass. to Burmuda

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To: rainwater who wrote (697)	8/22/2000 12:48:03 PM
From: Scott Bergquist	Read Replies (1) of 1116

I believe a lot of people went short August 1, the day after the 20-F was released. The tax issue came to the fore, and caused a significant drop after hours. On August 1, my best guess is that there was considerable shorting between 18 1/2 and 19 7/8. This morning's run to 18+ on 700k shares was probably the "squeeze", but coupled with that is the "Firestone-Bridgestone" story, as mentioned last night on Nightly Business Report. People see "16..+3 1/8" and they think it is a move that will continue, so they jump in. It is not often a single factor, but a convergence of several things going the same way. Add to what I've mentioned, the fact that the Gilder Report is supposedly coming out in 5 to 48 hours (???) from now (Gilder is bullish on Mirror Image, and a vociferous critic of Lazard's hack job on Xcelera) and you can count about four sources of "propellant" fueling the two-day run..

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