Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Arthur Tang who wrote (1842)	4/5/2001 6:35:40 AM
From: Arthur Tang	Read Replies (1) of 1911

If you study the AMES short interest of the past 6 month, you would have to agree with me. The stock is too popular. 6 month ago, the short interest was 4+ million shares. No one sold back to Herzog(now Merrill Lynch). In the January effect more shorts were sold, bringing the total shorts to over 6 million shares. About 1 million shares were bought back in February; but March added some more shorts when price pulled back. This overbought condition is the reason for further pull backs. When the red red volume candlesticks on the 1 minute daily chart disappear, when only blue volume candlesticks show; the market makers will reverse direction to buy back on profit taking. This will come to pass, but when? Herzog's short interest may still be averaged in the $20+/share. They are not in a hurry to buy back. Perhaps, Rolando will offer to sell them some unissued but authorized stock at $10-16/share(private placement by an investment banker), knowing they want 30-40% profit on the short position. Take them out, Rolando and let AMES float free between true resistance and support? Good luck on your investment here, but its hard the way its going?

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