According to following information
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ViWes InvestInfo: Short Interest on NASDAQ Stocks
Item Ticker Month Shares Short Avg Daily Volume S/A* Remark
1 SYQT 02/98 11,031,723 2,340,063 4.71
01/98 11,330,246 1,146,879 9.88
12/97 11,274,831 1,933,307 5.83
11/97 9,743,140 2,745,638 3.55
* S/A = Shares Short / Avg Daily Volume; it may be used as a rough measure of days to cover.
viwes.com
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SYQT has about 11mil shares of shorts outstanding rightnow. Someone said that these shorts were probably established when SYQT was traded above $5. Well, read the "* S/A" note. It cleared showed that the average days a short position is covered was about 4.71 days (half of Jan.), which means almost all shorts in Feb were established in late Feb. The price of those shorts? probably between $2.3 - $2.75, that is to say most of them are now under the water! More, what about SYQT goes to $3.5? They are gonna lose 50% of their money! WOW, if I'm one of them, I'd be peeing on my pants!
Looks like these shorts ARE scared to death rightnow. If 1/3 of these poor guys rush to cover when SYQT reaches $3 - $4, we probably will have an exploding situation. SYAT could very well be shooting pass $4 in the matter of hours! Anyone recall BREX (?) which shot up from $2 to $14 within 6 hours?
Good luck shorts 'cuz you need it!!!
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