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Technology Stocks : WCOM
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To: Softechie who wrote (10081)5/14/2002 1:38:00 PM
From: Oeconomicus  Read Replies (2) of 11568
 
He was talking about index funds only.

BTW, the April short interest (43 million shares, I think)amounts to less than an hour's trading volume lately. Since the stock's only been over $5 for a few days (during 4/15 week) since that last measurement, I doubt it got much bigger (except perhaps for MMs piling on with their own shorts). Short covering, in the face of this kind of volume, is not going to provide much bounce, IMO.

Which leaves open a big question - who is buying all this stock?

I seriously doubt that individual speculators could absorb much of this. So who is it?

Is the "smart money" dumping at a buck and a quarter or are they taking advantage of the general panic (and forced sales - both margin related and index fund related) to take stock away from the dumb money on the cheap?

Blood in the streets.
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