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Technology Stocks : Winstar Comm. (WCII)
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To: Kingpin who wrote (7628)8/8/1998 11:29:00 PM
From: Steven Bowen  Read Replies (3) of 12468
 
"To disprove this assertion you only need to marvel at the thrashing
the other CLECS have taken. ICGX, for instance"

But how do you explain the large short interest???

Look at the short interest as a percentage of the float and as days
to cover for a few CLEC's;

WCII 27.2% 12.87
ICGX 7.8% 5.90
MCLD 1.2% 6.40
NXLK 6.4% 5.72
ARTT 1.6% 1.80
TGNT 1.5% 8.42
and good ole
ICIX 23.5% 12.67

WinStar is 6th on the shorters list and ICIX is tenth. It seems
somebody smells blood in the water for those two companies in
particular. Like you said, ICGX has fallen 60%, but shorters
aren't piling on there.

"The shorts are momentum players there to exacerbate the weakness."
Again, ICGX and ARTT has fallen worse and MCLD has fallen about as
bad as WinStar, but they aren't being shorted out of the ordinary.

I don't follow ICIX close enough to have a feel, but the feeling I
get with WinStar is that people think they're over valued for a
reseller. JMHO.

Shorters aren't stupid. I would wager that, on average, the
shorters understand more of the fundamentals than investors. There
is something to this large short interest.

PS Can you believe the short interest in ARTT? To fall like they
have and not have hardly any short interest!

PPS "Or to become overly critical of minute shortcomings."
Are you suggesting that you see the low levels of migration to on-net
as a minute shortcoming?
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