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Technology Stocks : Open Market (OMKT)

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To: MW who wrote (1247)	3/20/1999 2:38:00 PM
From: Zeev Hed	of 2004

MW, I looked at the short position and it is yoyoing quite a lot in the last few months and right no it has reached some 4.6 MM shares (up from 3 MM shares) but it is till not very large and only about 2 days worth of volume. Nevertheless, such an increase is not typically the MM's doing but someone who believes that OMKT may face some unique challenges ahead. After all, at the current rate they are burning cash (about $30 MM annually?) they have about 14 to 18 months before they have to find additional sources of cash. Mind you, I have only looked at the numbers and have no idea what are the future prospects of OMKT. I am sure that with the sizeable position you have, you have a pretty good idea when OMKT will go into the "J" curve stage and turn positive cash flow. Maybe the shorters differ in their opinions with you. Good luck Zeev PS, the only reason I posted earlier was to dispell the wrong perception that I ever recommended calling shares (or moving them to a cash account as you have) to reduce the supply of shortable shares and thus cause a short squeeze. If OMKT is on the verge of a "J" curve event, these fundamental changes could by themselves cause a squeeze.

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