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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (5348)4/11/2000 12:07:00 AM
From: The Reaper  Respond to of 15615
 
There is one thing that might break the back of this nasty decline in GBLX, assuming of course we don't have a meltdown in the immediate future. Hedge funds could have been shorting GBLX all the way down in anticipation of covering their shorts with the secondary issue coming forth. By cutting the number of shares offered, some funds may find themselves more short than they wish with not enough shares coming in by way of the secondary. A little short squeeze could happen here and now. I guess that tomorrow will show what's up with this scenario. If the short covering is severe enough, perhaps we can find a floor.

kirby



To: quidditch who wrote (5348)4/11/2000 7:57:00 AM
From: JDN  Respond to of 15615
 
Dear Steve: Your's is another excellent post and coupled with Roberts should give any long term investor a sense of confidence. JDN


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