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Biotech / Medical : Biotech vs. Shorts -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (89)	8/3/1999 1:20:00 PM
From: Biomaven	Respond to of 427

Mike, how high does it have to go before this becomes a bullish contrary signal as shorts begin to cover Don't hold your breath, even assuming these are unhedged shorts. In my view, the only time a high short position is bullish is if you get takeover rumors or if the company starts to do really well. -or does that not apply in these situations where there are convertibles? If the shorts are by the convertible holders, this would be good, as it means they are winding down their position. (You might be able to tell in the next 10-Q by looking at the number of convertibles converted.) Basically the stock is going to take a hit at some point when they short and convert, and it would be nice if part of this has already happened. Peter Peter