Take Short Interest report with a grain of salt.
The average daily volume for Ascend is above 5 million shares. With
many days above 7 million shares. Now take a look at the report:
>Among the issues with the largest short-interest positions,
>WorldCom Inc. was up 5,761,406 shares to 42,977,690
>shares; Boston Chicken Inc. was down 418,071 shares to
>19,770,644, and Ascend Communications Inc. was up
>1,570,450 shares to 14,724,332.
The extra 1,570,450 shares over 30 days is only a fraction of one
day's volume. The 14,724,332 is only two day's volume. Hardly
a big short position, from a relative standpoint. In fact, it
could not even be viewed a plus by people, like myself, who are
long on Ascend because the short coverings would not bring much
volume in the event the stock went up in price.
Regards,
Jacob Rosenberg |
