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To: yihsuen who wrote (14069)8/11/1999 3:05:00 PM
From: ahhaha  Respond to of 29970
 
It's unsystematic. The short covering can sustain upside price action because the public enters orders to sell above the market. It is the entering of orders below the market to buy which gets the market translating downward. The converse is true on the upside. The public helps the short seller by settling for less and losing the most. Only the market is long near the bottom since it was public selling which made the market go long.