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Technology Stocks : Echelon Corporation (ELON)
ELON 21.88+10.1%Oct 6 5:00 PM EST
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To: Ted The Technician who wrote (3008)7/16/2002 10:44:12 PM
From: pranadude  Read Replies (2) of 3076
 
Notice from the CC that margins were much higher than expected. This is something that should only increase profitability in the future.

Please let me know when you plan to short. I'd like to hear your opinion and consider either buying some puts or selling some in the money calls to collect on the downside of what may soon become a very nice short squeeze. I'd rather not however sell my shares for tax reasons.

As far as the option question is concerned, I don't think it will become relevant news affecting stock price for quite some time. And based on what Red says from Raging Bull board, (BTW, he predicted the better than expected earnings) He doesn't believe the options issue will affect ELON share price. If you disagree, please take it up with him directly.

I believe that the shorts will regroup and bring the price down sharply once we find a new high - whether at 18, 21 or higher. Good luck on your short position.

BTW, I've got no problem with people shorting my favorite stock, although I'm too bullish to do it myself. With a new utility deal to happen in the next 6 to 9 months, and maybe sooner, I'm not open to that play. I believe that there are far better stocks to go with for that.
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