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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Phil Jacobson who wrote (2569)	3/15/1998 1:23:00 AM
From: Duncan Lestina	Read Replies (1) \| Respond to of 13953

No one HAS to cover. But only a fool would disregard the risks vs. the rewards. If this stock shoots up to the high 20s, I would consider it a short candidate (and that would be SHORT term before earnings). But the risk is great to remain short at $20-$21~, unless one expects an earnings warning, which I think is very remote. I also think that Friday's sudden extensive drop may have caught some the shorts by surprise. Covering Monday will give them a quick profit and give the stock an additional boost.