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To: TREND1 who wrote (27073)	1/24/1998 1:23:00 AM
From: Tim McCormick	Read Replies (2) \| Respond to of 53903

LJD, let's not get too excited. 1. Shorts are generally more informed and sophisticated than longs. 2. Contrary to public opinion short squeezes are very rare. 3. Studies show high short interest stocks underperform the market. 4. One year ago CUBE had a similar short interest/shs. out ratio. 5. Most high short interest stocks are arbitraged w/ options or convertible debs. 6. Julian Robertson is the largest short and he has $15 Billion and a good track record. 7. Funds receive interest on stock loans and have a fiduciary responsibility. 8. Did you see IOM today? Is AOL next? Cult stocks suck. DRAM is not special. Good Luck, Tim

To: TREND1 who wrote (27073)	1/26/1998 12:31:00 PM
From: John Graybill	Respond to of 53903

>> What if some "FUNDS" do not let their shares out for shorts? Correct thinking but not exactly the way it works. Before you can short something your broker has to call around and see if there are shares available in somebody's account somewhere. Sometimes he will tell you, "sorry, there is no stock available to short!" OTOH, if he finds it and you short it and then the person decides to sell the stock (perhaps because they have just issued a very bullish research report on the stock!), you might get a call from your broker one fine day saying "you bought back your short to cover today, here's the price". abra cadabra, you're out. oh, this buy adds fuel to the fire of course. So it's possible that the funds are giving people a lot of stock to hang themselves with.