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Technology Stocks : ESST-the new beginning.

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To: ChrisJP who wrote (3424)	9/26/2002 8:54:05 AM
From: bits	of 3493

Chris: Don't think it will be that simple. Institutional investors often sell in Oct for tax losses and shorts need to cover. Retail is getting smarter, selling earlier. So the best time for shorts to cover would be when longs are selling for tax purposes. Which would be Oct – Dec. Also, some short hedge funds want to book profits for this quarter, so some of them are covering their shorts now. Like window dressing, except it is for the short funds. Unless the shorts expect more really bad news or a war, they might want to cover before the Jan effect. Since almost all stocks show a loss for this year, not sure how that might change the Jan effect. Is everyone going to sell everything they have at a loss, even though they have no capital gains to offset?

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