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Technology Stocks : Sapiens International Corporation (SPNSF): Turn around...?
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To: wpckr who wrote (1535)4/14/1998 11:12:00 AM
From: marcher  Read Replies (1) of 1936
 
When trying to understand the movement of this stock the following words from Zeev Hed (referring to a different stock) might help:

"The shorts actually have a "legal" way of manipulating the
short position reported. Since the short position is
reported only once per month, prior to the reporting date
(around the 10th of the month) they cover a little of their
short position. This results in two beneficial events for
them, the first is that the reported position is smaller.
The second, however, is even more nefarious, as a result of
their covering they create an upward momentum, which they
let go unabated for few days, and then after the 10th of the
month, they reestablish their short position at higher
prices than their covered position."

May apply or may not. The stock sure trades ugly.

--marc
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