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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: seth thomas who wrote (10988)	5/28/1998 12:11:00 PM
From: @jim	Respond to of 14631

Your FYI post is good news! Thank you. I just should have bought more yesterday. @jim

To: seth thomas who wrote (10988)	5/28/1998 1:56:00 PM
From: RDH	Read Replies (1) \| Respond to of 14631

Steven, Hard to believe that anyone would short CSCO, Dell, SUNW, MSFT -- but I guess that is what makes this market full of opportunities. Good to hear the short interest is at 18.6, however in terms of days to cover it is not extreme (IFMX average volume is over 2,000,000 a day -- even though lately we have been seeing less than 2,000,000 a day). But I certainly would enjoy seeing a short squeeze nonetheless, to get it back up to around 9 or 10, just for old time's sake. :) - RDH.

To: seth thomas who wrote (10988)	5/28/1998 2:30:00 PM
From: Timothy R. West	Read Replies (2) \| Respond to of 14631

Short positions may involve hedges against converts or other derivatives. All shorts are not necessarily outright bets against a stock. Also, all the trading houses on the street hold long positions and short positions in a stock to avoid the plus-tick rule. In other words, if you are long in one account and short in another account, to get SHORT, you sell your long position and hang onto your short position. To get NEUTRAL, you buy back your long. This is the way everyone does it. Most trading stocks, therefore, have HIGH SHORT INTEREST.

To: seth thomas who wrote (10988)	5/28/1998 5:21:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 14631

Please...lets not include "Boston Chicken" in this group of "good company". As far as the stock price goes, it looks like the MM attempted to unload some shares at above 7 a couple days in a row now. However, the price could not be held above 7 where it dropped back to something like 6 7/8. So this means to me that there has been limited buying interest for this stock. Still, there appears to be a price support at around 6 7/8 given the recent trading activity on this stock. The short interest in this stock does not surprise me. Shorts attempt to look at the fundamentals as far as their timing goes, so their timing is usually way off, and what keeps them in their position is their very own sentiment of "I am right. The market just does not know it yet". IMO they tend to get more attached to their position that the longs do, the contrarians they are, until a price rise forces them out of their position. Once events validate their position, they tend to not cover because now sentiment is helping them think "I knew I was right. This stock will prove it further by going down even more", where if 4 happened, then they think 2 is possible. Now this earnings restatement validates their position another time following the past two quarters earnings reports and a run up to 10, where they may have been getting a little nervous and covered. So those who were forced to cover their short position now may be back shorting this stock. The short player is an odd sort of sentiment driven market player. Their decisions on what and when to short are seldom driven by facts and figures, or a technical knowledge of the market, even though they insist they see fundamental or technical "evidence" of a company's stock is about to tumble. It is only the short term trader that shorts at opportune times who are likely to benefit in a bull market. It is this short term trader that is probably who is also adding to the current short position of this stock. If the price remains at or above 6 7/8 they may start to cover and temporarily move the price back above 7 which would encourage more traders to cover. But the longer term shorts will stay in their short position waiting to be proven right once again. Just my opinions. Comments welcome. Bob Graham