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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (63528)	9/30/1999 6:11:00 PM
From: R.E.B.	Respond to of 90042

PIOS fans, check this out: This is why the short position does not reconcile with the convertible debentures issue..... at least I'm not understanding it yet: Price of PIOS in March, 1998 = $16; Short position = ??? Price of PIOS in Oct., 1998 = $7; Short position = 3,244,862. at this point (Oct, '98), I would have expected some short covering..... Price of PIOS in Dec., 1998 = $11; Short position = 3,509,470. Price of PIOS in March, 1999 = $8; Short position = 3,468,790 at this point (Mar, '99), I would have expected some covering from the recent drop from $11...... but nooooooooo. Short position for April, 1999 was just slightly down, but from May through September has gone up by 1,000,000 shares..... Can anyone explain the rationale of this? Perhaps debenture holders are not as smart as we they think they are...