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Technology Stocks : THQ,Inc. (THQI)
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To: Joe Casey who wrote (7268)7/27/1998 1:32:00 PM
From: Ron Harvey  Read Replies (2) of 14266
 
<<The short interest and upcoming stock split are indeed bullish events.>>

The theory is that short interest is bullish because the shorts eventually have to buy to close their positions. The practice is often more complex, however, because shorters of large positions tend to be more objectively analytical than longs, and it's not bullish, as I view it, when there's a lot of fairly sophisticated (my opinion) bearish sentiment. Also, the upcoming split is being spoken of as if it will emerge as a surprise and energize a host of new buyers, but splits, after the initial announcement (or the discounting from an expected announcement) are more typically nonevents. Nothing, after all, is adding value. I'd expect THQI to drift lower through August with perhaps an upward but short-lived blip at split time occasioned by folks who think that the split will draw new buyers.
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