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Technology Stocks : THQ,Inc. (THQI)
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To: JGreg who wrote (6393)6/25/1998 10:33:00 PM
From: Sigmund  Read Replies (2) of 14266
 
I have been thinking about the shorts and when they will cover. It seems to me that they will not cover below about $35. The old high is about $33 depending on whether or not you count intraday levels.

Up to $33 many shorts will think that the old high gives them some protection as the stock may well bounce off of that level. Even if it goes over $33 it is likely to drop back below $33 at least two or three times before leaving that level behind. At about $35, they may get discouraged and give up. That of course would mean a run up from that point.

So I think from here to $35 or so, the stock will have to move on its own without benefit of much short covering. I am not sure we will get there before the week prior to earnings, but we may.
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