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Strategies & Market Trends : Anyone following Capstead (CMO)??
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To: Carl Yee who wrote (81)7/28/1998 6:02:00 PM
From: James F. Hopkins  Read Replies (1) of 216
 
I think she hit her low today, there was some short interest last
month , my guess is that more of that hit her just before and since
the class actions were announced , likely a lot of shorts on her
right now, and some covering will soon kick in.
General rule is these bad news babies get shorted, then when the
selling stops they try to cover, a lot depends now on how much
she was recently shorted ..but a bounce is due in a few days,
if they run out of sellers other than shorts she could
spike fairly good.
If she stays down here someone will buy enough to take over control
of the company, and we will wind up with new management.
She's about 60% of book now, big money won't let that sit,
that's a fast 40% for a fast operator.
Jim
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