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Technology Stocks : Juniper Networks - JNPR -- Ignore unavailable to you. Want to Upgrade?

To: Mario who wrote (3081)	3/7/2002 5:27:51 PM
From: Rich Wolf	Respond to of 3350

My simplistic take was that the rapid drop from 13s to 10s was mostly shorting, and many of those were not covered with the stock in the 9.5-10 range as the market turned. If I had been short, I would have covered. I think the move up was short covering. On other stocks that shorting had been active, I have only seen controlled covering, no reshorting yet. It wouldn't surprise me to see the shorts swarm again if the market reverses. OTOH, to respond more directly to your point, I agree that if additional bad news had come when the markets were still down, the stock would not have lifted... because the shorts would not only not have covered, but would have piled on more heavily.