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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (4473)	10/30/1999 5:03:00 PM
From: Sophie Janne	Read Replies (2) \| Respond to of 10293

Kevin, there can be only two valuation / technical reasons that a trader, like Bill, would cover his Wave short position. 1) He believes the stock is close to its fair value / to its bottom. 2) He believes the market believes the stock is undervalued / oversold. Yes, one can cover a position for personal financial reasons, like one needs the extra cash for a down payment on a house, but those reasons are external to the market and not useful in understanding short covering. Sophie