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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (97211)	7/23/2002 12:08:46 PM
From: J L Segal	Read Replies (1) \| Respond to of 99280

Steve, any thoughts as to how many of the new long call positions were established by shorts hedging their positions? If we're getting near 'the' bottom, (or even just 'a' bottom), which is said to mirror what we saw at the top in early 2000, then, shorts (as were the longs in 2000) may be getting a bit too greedy, not wanting to cover yet ..... expecting/hoping for just a bit more profit..............hence, shorts may rather hedge with long calls vs. buy back to close their positions. BTW, I'm amazed at the huge % short interest in some stocks recently ..... some approaching 50% of float. Isn't there a cap on the amount of shares allowed to short? I always thought there was .........never saw such high interest before to want to question it.