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Technology Stocks : Excel Communications
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To: Lee Penick who wrote (2578)3/12/1998 2:06:00 AM
From: Joe Williamson  Read Replies (1) of 2806
 
If the stock goes down say to 20 or so, you'll probably hear from McNabb and the other bears again; his pain at 24 is almost palpable! He tends to get quiet when the stock is going against him; remember, if you're short you have theoretical unlimited loss exposure. Imagine having shorted Microsoft at 5 or 10 a few years ago. When a heavily shorted stock begins to rise, the shorts begin to squirm and eventually cover causing more buying and sometimes a nice pop in price. Have no idea what McNabb's threshold of pain is, but expect that other more prudent shorts have already begun to cover, waiting for a more promising opportunity to recoup losses.
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