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Strategies & Market Trends : Shorting stocks: High fliers
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To: Dante Sinferno who wrote (468)3/25/1998 1:03:00 PM
From: chester lee  Read Replies (1) of 709
 
<<Fourthly , many believe the price is runup just before these
announcements as a means of getting a short off at a higher
level. (This is what is occuring now IMO as the stock is
rising on no news with bad news , just around the corner)
The only thing missing here that would make this an even
better play is the absence of FAHN as a market maker ,
although I'm crossing my fingers that they will show up
on the next monthly market maker listing. :-)>>

Ahh! I was able to calculate the dilution, and expected the flipping from the warrant holders selling their new found common shares, but did not anticipate your forth point regarding the shorts trying to get a higher price.

Thanks for the lessons.

Re: timing, John said it best in a earlier post. One additional comment I like to make is that GTAX's best quarters in the second half of their fiscal year. Given that this is a company that does taxes (and probably book keeping), their business is seasonal. Their first two quarters are their worst, which is already reported. Their next 2 quarters will most likely be profitable. I don't know when they release earnings, but a sophisticated CFO will time any warrant redemption w/ the earnings release or a pre-earnings release which.

re: shortability, the float of 2mm seems small and subject to manipulation and call-ins. I called Sch this morning to see if shares were available. Their answer: Shortable, but no shares available.

Chester
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