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Non-Tech : Sungold Gaming International (SGGNF)
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To: KIWI who wrote (3213)2/25/1999 7:48:00 PM
From: John Lawrence  Read Replies (2) of 5164
 
How many shorts?

I don't know. This is a perennial topic. Kim says he is able to check somewhere to determine how many shorts are out there. I've heard his opinion corroborated by others who seem to know what they're talking about. I don't know enough about it to disagree with him. Those guys who pop up on this thread from time to time to run down the company also lead me to believe the shorts are just biding their time. If we accept that there is a large short position, my opinion, FWIW, is that there hasn't been enough volume at these prices for those guys to have covered, and I think they believe that they'll never have to cover. Keep in mind that the shorts were represented by the guys who voted against SGI on the VSE PLAC committee. Those guys figured they could shut the company down, but they couldn't. Now they're hoping none of the projects will be built. They're hoping they don't have to pay a cent to cover. They'll be wrong there too. IMO, before the ink dries on a lease with Interport or a deal in Michigan, we'll see the shorts covering. Some people believe the price will have to get up into the $4 range before the covering starts. One way or another, we should be able to tell, because when they cover, they tend to do it quickly.
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