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Technology Stocks : Fonix:Voice Recognition Product (FONX)
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To: cdtejuan who wrote (2173)2/9/1999 8:29:00 PM
From: john harris  Read Replies (3) of 3347
 
juan, I hope that I can express my opinion, answer your question candidly, and not draw too much fire from the faithful bulls of fonix.

I do still have a short position on FONX. I increased the position at a price of 2.75 on the big share day last Wednesday. I do not believe that the stock can be valued in excess of .50/sh. I was shaken out of part of my position about a year ago. But I kept the remaining position until the silver platter offering last week. You should know that I believe there has been some heavy shorting taking place on this stock the past several months that does not show in the NASDAQ data. I also consider this shorting to have taken place out of Europe in addition to the short hedging by the groups providing the financing for fonix.
But I think the shorting that has taken place in the past several months was part of an orchestrated plan to manipulate this stock (short covering) on the non-announcement last week, and to create an illusion of strong buying interest.
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