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Technology Stocks : SEVL
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To: hoffy who wrote (234)3/5/1999 5:53:00 PM
From: Mark The Trader  Read Replies (2) of 703
 
From Bloomberg. You are guessing that a lot was shorted today , the number from last month is not irrelevant . The largest short position I saw was 1.75 million shares back in the April/May 1998 period when the stock was at an all time high (12 5/8). The short interest dropped very quickly after that spike in price , thus your short squeeze probably took place back then. If you get another large pop without a pullback on Monday then I would venture a guess that the stock will start to show a substantial increase in shorting activity.
With a float of 17 million shares you would need at least 2 million shares short to cause a short squeeze on this stock if the price began to run up .

Mark
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