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Technology Stocks : Barringer technology (barr)
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To: gonzongo who wrote (456)2/3/1998 1:05:00 AM
From: Sparky Beardslee  Read Replies (1) of 652
 
I posted this on another board:

Subj: Shorts?
By: cbeardslee
Date: Feb 2 1998 10:03 P.M PST
Reply To: Msg. 82 by sunsetbeach

While BARR has become a favorite to short, the traders are killing any rally. Since 9/7/97 (when BARR announced the 2ndry) I counted nearly 20 mill shares traded in a short period of time. You would wonder; who owns this co? With that many shares trading
the ownership would have changed hands several times. The answer is, the traders have been in control of this stock. The reason the price is under 15 today is because they do NOT want to cover. Whenever positive news appears, the shorts begin to cover and when the stock stalls, the shorts come back in to try to keep it from getting to 15. When we finally get to 15, all hell is going to break. This is where you will see a parabolic move seen only once before; from early '96 to summer where the stock went from .25 to over 14 in just weeks. We have been basing now for over 1 1/2yrs and the short position is still quite high, and I know it frustrates barr mgmt. Their feelng , "we will prevail soon nough"
In the meantime the stock continues to be manipulated. Funny, I notice some of these boneheads bought large blocks the other day below 13 and now the stock sits. Cracks me up. I would not be surprised to see another move up soon to accomodate these morrons. It could backfire, however, if we should get near $15.

Sparky

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