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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: TShirtPrinter who wrote (41)	5/11/2000 3:35:00 AM
From: Maurice Winn	Respond to of 543

Tony, from the PMs people have sent me, there are a LOT of shares which will move to cash accounts. Globalstar's short position is very unusual with a very high level of short interest. It really is very risky for them to have taken such an irrationally exuberant position on the prospects of a market drop in Globalstar's share price. The Federal Reserve Board co-ordinates interest rate expectations and Alan Green$pan announces their collective intention to simultaneously change their interest rates to reduce irrational exuberance. That is very good. Now we have the opportunity to do exactly the same thing in reverse to reduce irrational fear [on seller's part] and hypothecation [on short's part] to help Alan stabilize the market. You'd think somebody would pay us all a salary or something for this effort. I think PMs would not be strictly accurate nor truthful, so I don't think I'll bother collecting 'how many shares'. Suffice to say that I think there are a LOT! Heck, it's already 10 May there. Only a few shopping days until the GGMDM and only about 3 before it's too late for all shorts to cover and some will be caught in the storm. Judging from the comments I've received, I guess there might be a couple of million shares so far but who knows how many will act and how many would need to act to actually precipitate a short squeeze. It could be purely self-fulfilling, just like any market drop or rise; Abbey Cohen or the Prudential guy, Ralph Acampora announce some prediction and the markets move in self-fulfilling action. Same with the Gilder Effect. Nothing need even really change. But in this instance there will definitely be some real change in margin position of stocks. Mqurice