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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: AK2004 who wrote (2567)	8/23/2000 10:48:35 AM
From: oldirtybastard	Read Replies (2) \| Respond to of 4155

Albert, I cannot make sense of what you are saying here. As to shorts exiting positions without affecting stock price to the upside, look into the past 9 months to 1 year with KIDE. It's not the shorts so much as disheartened logs throwing in the towel, a slow steady process.

To: AK2004 who wrote (2567)	8/23/2000 11:08:10 AM
From: Kevin Podsiadlik	Read Replies (2) \| Respond to of 4155

Albert, I really think you don't understand the mechanics of short selling here. When the bad news about Green Tree broke on March 31st and CNC was in freefall, who were the first people to step in and volunteer bids in the face of the falling knife? You can bet your last dollar it was covering short sellers. If not for them CNC might have fallen into the pennies that day. On July 3rd, while the big money was at the beach, who offered stock to keep CNC's price at least somewhat restrained and prevented some mo-mo sucker from being bilked for $15 or more a share that day? Short sellers again. So you see, by selling when there aren't enough long sellers, and by buying when the longs are afraid to, shorts sellers actually reduce volatility, not increase it. Do you understand now or should I go look up some sources to quote on this? This is really fundamental stuff.