Sotheby's (BID) Auction House Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Sotheby's (BID) Auction House

BID 56.99

0.0%

Oct 14 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: MJ who wrote (69)	12/22/1998 1:10:00 PM
From: Geoff	Read Replies (1) of 236

MJ: I agree that the small active float is odd, but from what I understand Baron is committed to BID long-term. I think shorting BID near-term may work but with such a small float, shorts could get crushed. A few months ago short interest began building on hopes that Baron would sell since he owned so much and the markets were tumbling. The real push began in Aug/Sept, and we're now at a short position of 3.43%. The stock has climbed a lot since the real short push began, and there was a squeeze a few weeks ago when we touched 29 or so. The shorts put up more pressure and sent the stock back down to the low 20s, but BID has held up quite nicely at 24 -- a classic case of the old highs (resistance level) becoming the new support level. Now with analysts upgrading it the shorts are going to find themselves more squeezed, however new shorts will emerge. People are shorting another holding of mine, Big MO. I think they're nuts but what the hell? We are off our highs today, but still 30+ is nice. Also, it appears that Baron has no intention of ceasing his buying activities. He has been bullish for quite some time, and remains very bullish into the long-term. later, geoff

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next