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To: LT who wrote (1801)12/9/1997 11:52:00 PM
From: JOE MEDSKER  Read Replies (1) | Respond to of 19331
 
Lou,

If infact we have one BD shorting and I have no reason to believe that Morrow & Co is wrong then IMO its not going to take too many trades on the buy side to see us gap up sometime tomorrow. I remember last year when this happened and the buyers eventually overwhelmed the short seller. The result was the price moving up to the $4.00 range. I have no doubt that this time the short seller has made a very large mistake.

Best Regards



To: LT who wrote (1801)12/10/1997 9:23:00 AM
From: James Harold Alton  Read Replies (3) | Respond to of 19331
 
Lou, It's that "game" that makes the BB an ufun place to trade sometimes. By short covering, were you referring to one particular MM with inventory transferring shares to other MM(s) with a short position? If the MM's are covering, then I would think that this could be a good sign, since it would appear that at least some MM's feel we either have hit bottom or maybe they are concerned that future buying pressure will make it hard for them to cover at these prices or lower?

James