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Technology Stocks : General Magic

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To: Sea Otter who wrote (2134)	6/5/1998 3:00:00 AM
From: shortlong2	Read Replies (1) of 10081

Sea Otter you probably know as much about shorting as I do, I tried once and it scared the hell out of me. Some shorter's are pretty sharp but I would venture a guess that for every sharp one there are ten that think they are sharp, but don't even come close. You only have to go as far as the Yahoo board to easily see this. Many, many of them think all they have to do is short a stock then go on a public forum such as this and scream SELL!!!!!!!!!!!!, and that's all there is to it. They will find out that it is not that easy. Some of them sling so much BS trying to convince people they know what they are talking about they are downright laughable. I will admit there is one that had a lot of people shaking in their boots over there a few weeks ago. She really came across like she knew what she was talking about, actually had a few longtime posters admit that they had sold because she sounded very credible. Guess what ? She covered her short position and is now long. I feel that one person alone temporarily knocked almost $3 off of GMGC. Remember the day not too long ago when GMGC went down to 9-5/8 ? That was the day she covered and went long. And she was posting immediately what she was doing. I give her credit she is one of the sharp ones. But anyhow as far as short interest goes, technicians consider large short interest as bullish. Because now you have buyers from two different camps, providing nothing drastically wrong happens. When General Magic releases their big news I would not want to be in their shoes. When the longs are jumping on in a big way, forcing the shorts to cover, things can really get carried away on the upside. I don't know if I helped here or not, I'm not all that sharp myself but this is about the best that I can do......shortlong2

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