Identix (IDNX) Message Board

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Technology Stocks : Identix (IDNX)

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To: Rob C. who wrote (5652)	12/9/1997 12:15:00 PM
From: David	Read Replies (1) of 26039

Here's my uninformed take on what's happening . . . Volume is too low today for short covering, I think. This stock is not going to wander absentedmindedly into territory above $12 a share, not with the selling fence put up by the shorts. It will only move on institutional buying. Right now, the institutions can rely on the shorts to keep the buying price below $12; why else does volume dry up as we approach $12? So it's kind of a Catch-22 for the moment. On the other hand, we're seeing good buying pressure between 10 and 12, which is why the stock is building a nice base, and why the shorts' strategy has to come to an end. We'll push up well on good news.

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