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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: SPEEDRACER who wrote (12214)	1/2/1998 8:50:00 AM
From: john douglas	Read Replies (2) \| Respond to of 25960

By my estimation the short position is about 19% of the float, but let's agree it's a not a small number! I believe this question has been discussed at length earlier in the thread. First, there is conjecture that holders of notes convertible into 3.2 million shares @ $47 may have sold short to hedge all or part of their position. Second, professional shorts have jumped on board either because of a broken chart, or because of the turmoil in SEA. Unfortunately momentum cuts both ways. If I were holding a tidy profit on a short position, I would not have covered in '97 unless the chart reversed dramatically, which it did not. Rather I'd want to postpone the taxable event until '98. I'm not bothered by the short position at this time, but may begin to worry if it is no lower 6 months out. Long for the long term.