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Technology Stocks : Cabletron Systems (CS: NYSE)
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To: Kiriakos Georgiou who wrote (2744)1/4/1998 9:15:00 PM
From: Paul Haynes  Read Replies (1) of 8358
 
KG,
Based on the latest average trading volume, the short interest represents about 2.5 days of trading. This does not seem like a long short coverage ratio compared to some others I have studied in the past.

Also, my guess is that the shorts may have been covering some last week after the final tax losses were locked in; I think the sales had to be made by the 26th to have settlement by December 31.

Next week should be interesting as it may shed some light on if we are going to have a "January effect" this year. Friday's volume was low after fairly heavy volume on December 31. The tech stocks seemed to do well on Friday but the market was not trading as normal. This coming week will be the acid test.

Have a great week,
Paul Haynes
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