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

To: TechMkt who wrote (12704)	7/19/2001 6:35:06 PM
From: BWAC	Respond to of 15615

Fez, Gee whiz. That is just getting a tad bit out of hand. Seems everybody is either cash or short or shorting some more. Sell at any price and live to laugh about it later. Much in the same way people would buy at any price. No in between. Either pile out or pile in depending on how the wind blows. No attention to asset values. No attention to the business being built. No attention to nothing much except a fleeting price in time. Read around a little on SI tonight and look at the celebration going on as stocks fall off afterhours. People are actually cheering the economy failing because they are profiting from it. I surely hope they have some big money, and are making some big money, because IF the economy really does fail their day job might just go away.

To: TechMkt who wrote (12704)	7/19/2001 7:51:38 PM
From: CF Rebel	Read Replies (1) \| Respond to of 15615

OT What? "A drop in short interest may indicate some investors anticipate a rally, while a rise may show some investors expect a decline in stocks." Since when is a short an "investor?" An investor owns a share of a business or asset. A short borrows, without explicit permission from or payment to a non-dividend paying stock's share owner. It's unfortunate that brokerages require a margin account owner to allow others to "borrow" their stock without payment or restrictions. Owners of stock ought to have bargaining power to "lend" their stock out - you want to borrow my stock, pay me for the right. A market with borrowing premiums would be interesting and might ameliorate the unnecessary volatility that shorting creates. A short being responsible for dividends only, if paid, is a joke. One could say that margining also creates volatility, which it no doubt does. But the marginer does pay interest regardless of performance. It would be interesting to see a study as to what factors were the biggest drivers of the bubble of the past few years. I doubt margining had anywhere near as great an effect as tax-advantaged accounts or the free cash thrown off by baby boomers in their highest earning years. And I do wonder about the investment banker shenanigans and it's effect. As things stand, shorting is looking pretty easy these days so I'd say we're within a quarter or two of a fundamental turn in the market. The longs bubble will become the shorts crater. From one extreme to another. Everyone gets theirs. By the way, my shares are always held in a cash account. CF Rebel

To: TechMkt who wrote (12704)	7/20/2001 2:23:42 AM
From: RobertSheldon	Read Replies (4) \| Respond to of 15615

It's a shame the way management has allowed it to just wither away. Ha! If short interest has the importance you imply, please explain the following. CD is fifth on the shorted list. It also happens to be my firm's largest holding. We bought and bought and bought in the fourth quarter last year (in the $9-$11 range) . . . after originally owning it in the mid teens. If we would have paid attention to the "knowledge" of the street we would have never become so ensconced and loyal to our CD analysis. And thus huge returns would have been left on the table. Not to mention that CD just smashed all estimates for their quarter last night . . . and this is just the beginning for the company. In effect, you are trying to use the level of rainfall in a given season (observable) in an attempt to discern if an area may become flooded. What you really should be doing is checking on the saturation of the soil and even the deep aquifers (a very complex proposition). We are used to doing the work necessary to figure out the saturation of soils and aquifers. As GX holders, we are in no danger of becoming flooded. Forget all the crap the street has fed you about figuring out if a security is a good buy or not. The street is full of imbeciles and the like with no better idea than an orangutan in the Sahara desert. Take care. I hope this helps in your quest to understand stocks.