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Biotech / Medical : Biotransplant(BTRN)
BTRN 35.28+0.5%Nov 5 4:00 PM EST

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To: aknahow who wrote (1200)1/26/2002 5:12:11 PM
From: Arthur Radley  Read Replies (1) of 1475
 
This goes in the how you want to spin it story, but in the list of shorts positions carried in Barron's today, the short position in BTRN dropped by 35%. For biotechs this was one of the largest % covering that took place. This can be construed as a negative in that these shares have now been purchased and therefore will not give the benefit of these purchases to come. However, I take the more positive position that this indicates that those short didn't want to maintain their position because of coming good news. For sure, covering 35% of a short position indicates major positions wanted not to have exposure of the stock going against them...meaning up!
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