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To: Tabby who wrote (563)10/26/1997 5:54:00 PM
From: Peter Goss  Read Replies (2) | Respond to of 164684
 
<there is thousands of shares waiting to be
bought back EVERY SINGLE DAY.>

Not when it starts going down. The fact that the short interest is increasing shows the shorts are not capitulating; instead, they are adding at higher prices. Once it cracks, everyone who expects the shorts to step in will be disappointed. There might be some light covering, but the serious shorts see this one at $15 and they will just step back and watch when it finally breaks.

The increasing float as the lock-up ends will also change the supply/demand dynamic. Better cash in around $60 instead of adding to the problem when it starts going south.

Peter



To: Tabby who wrote (563)10/27/1997 10:59:00 AM
From: Don Westermeyer  Read Replies (1) | Respond to of 164684
 
Tabby,

You're right about the short covering easing the decline of a stock.

But, IMO, serious short covering will not begin until it drops under $40.

In fact there have been huge short interest at least since the stock was $30.

Don


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