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Technology Stocks : SOFTKEY=MERGER MANIA
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To: Mahmoud Hussein who wrote (852)3/11/1997 10:22:00 PM
From: Raymond J. Steck   of 966
 
Short Interest as of 2/14 was about 6,400,000 shares. Average volume was about 998,000 shares (WSJ). Short sellers have been methodically covering shorts for past 2 months. No doubt they are
manipulating price down to force small investors to "bail out" (what a shame). I expect that most of the 50% increase in short sales posted for Dec 96 has been covered by now.
As Kirby mentioned, the best thing to do right now is put your shares in a vault and wait untill this nonsense "settles down". You know, I get the satisfaction of knowing that those SOB's won't get my shares cheap! I'll be interested to hear the outcome of the board meeting.
If TLC buys back shares, that will be a real confidence boost for investors.
By the way, insiders have been selling CUC, one of TLC's competitors.
See Barron's "insider trading" for the details.
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