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Technology Stocks : THQ,Inc. (THQI)
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To: Sigmund who wrote (7256)7/26/1998 3:11:00 PM
From: Joe Casey  Read Replies (2) of 14266
 
I also think short interest has increased...possibly from 1.5 mill to 1.8 mill. What is interesting is that THQ total volume from 7/13 to 7/21 totaled 1.92 million shares, in which the stock was rising. The last three days was slightly higher with 1.98 million shares, in which the stock dropped each day. These numbers appear to cancel each other out and if anything, more shares were shorted than covered since 7/10.

The short interest and upcoming stock split are indeed bullish events. I believe that short covering will start tomorrow, continuing the trend in the last two months after the short interest figures became publicly known. THQ will most likely not resume an immediate uptrend but I think it's safe to predict a higher close next Friday than 31 1/2. THQ is again bouncing off the 30 DMA like it did on 7/10 when it went from 28 3/4 to 36. The high this time could be 39 1/2 (25% gain).

I played Acclaim's new Warzone game, which was fun, but is too easy to beat. It's also extremely plain vanilla compared to Nitro. Nitro has more frills and should still have life left in it based on a lower price and my impression that gamers still prefer WCW wrestlers over WWF ones, despite the stronger WWF ratings.

One last point I want to make: It is counterproductive to bash the analysts. Calling them "stupid" or worthless will not win us any influential friends, that's for sure. It can only hurt the stock. I would like to see these types of comments stop...please.

Joe
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