Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Estimated Prophet who wrote (14162)	10/2/1998 8:49:00 AM
From: Chuck Molinary	Read Replies (2) of 27307

EP, <<Volume 15.3 million means that virtually all of the short interest covered today and lots of longs cashed in. Volume will not be very strong tomorrow, and the stock will not give up much more before pre-earnings buying kicks in again. Too many positives in the reportage lately. >> How do you figure? Do you know all the shorts? The Journal reported a few days ago that open short interest was about 9MM shares. That figure was little changed from the prior month. Are we to assume that there are no shorts left after 15MM shares traded yesterday? If anything, I'd bet the short interest has risen above 9MM. Indeed, I am a short, and I did cover a small part of my position yesterday (although I regret doing so). And, by the way, the longs would be in much greater danger without shorts; the shorts will slow the fall somewhat by providing at least a couple of buyers. Try to envision Dan Aykroyd and Eddie Murphy buying back OJ futures in 'Trading Places'.... I believe the "pre-earnings buying" already happened. If history repeated itself in the markets we'd all be millionaires. Remember the January Effect? The press made people so aware of it that one year it became the December effect, the next year the November effect, etc... At some point, the HOO's music is going to stop. Make sure you get to a chair fast because they're not going to last...

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