Shorting stocks: High fliers Message Board

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Strategies & Market Trends : Shorting stocks: High fliers

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To: Q. who wrote (610)	12/22/1998 8:13:00 PM
From: RockyBalboa	Read Replies (2) of 709

John, thank you for the heads up. Here, since my $17 short (for the BFLYW warrants) I'm that deep in the money, yet (I have covered most days ago for 7 11/16). As expected earlier, they hurried up in posting this "sucess" on the BizWires as well as register additional shares. "Bluefly.com Stock Hits Trading Milestone".. that says a lot, beyond hard facts. biz.yahoo.com Where to from now? As BFLY has been heavily shorted in anticipation of that deal, I could expect some covering activities. On the other hand, after that "achievement" by the company, I expect it to be quiet the next time, - with the exception they want to carry on, using the good times for "internet-related" stock now. From recent trading experience (ubid/mall, cool/wcap) I would expect some downward pressure and - hence spread widening on the warrants when the public is held away from arbitrating on it. So the warrants spread could widen as much as $6 - $8 (from $5) - my guess - within the next days. C.

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