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Non-Tech : Cityscape Financial (CTYS)

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To: Chris who wrote (882)10/12/1997 8:52:00 PM
From: Rational   of 2544
 
Christopher: Thanks for the table on short interests. About a third of the shares (11 million) are unrestricted and are in the hands of some funds and the public. Assuming that about a half are available for sorting (since institutios may not lend theirs for shorting), I suppose that shorts have reached a maximum. Thus, the pressure (like the Motley Fool article), the law suit, etc. is mounting to keep the price down. This may be the reason for why Put open interests are increasing at very high prices. We should begin to see a rise in the price if the small investor demand continues to stay normal. At some point in time (I hope soon), these short interests will have to be covered. I am just waiting for CTYS to make good announcements to reach that trigger point.

Sankar
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