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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (22438)11/10/1997 7:11:00 PM
From: jeff wheatley  Read Replies (1) | Respond to of 61433
 
< I believe when they buy short.....usually near the top....the stock moves up! Or atleast keeps it near the top. When they cover their short the stock I assume moves in the opposite direction. >-

I've heard of borrowing stock, selling it short and buying it back later to return to the lender, but I never heard of buying short. What's that?



To: Jeff Jordan who wrote (22438)11/10/1997 7:25:00 PM
From: sepku  Read Replies (2) | Respond to of 61433
 
>>>I believe when they buy short.....usually near the top....the stock moves up! Or atleast keeps it up. When they cover their short the stock I assume moves in the opposite direction.<<<

It's the opposite way around, Jeff. Shortsellers borrow shares from longs and immediately sell them (causing down pressure), with intentions of covering them by repurchasing the shares later (causing upwards pressure).

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