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To: Amelia Carhartt who wrote (24453)	6/20/1998 12:07:00 PM
From: Harold S.	Read Replies (1) \| Respond to of 95453

It would seem to be the case to me...I was very happy with my UTI holdings after I saw that 45+% reduction in short interest.

To: Amelia Carhartt who wrote (24453)	6/20/1998 12:30:00 PM
From: marc chatman	Read Replies (1) \| Respond to of 95453

For EVI, please note that its acquisition of WII was completed during the last period, so many/most of the short "covering" would have been the arbs who had shorted EVI and gone long WII. Unless you have some way to break out the arbitrage trading (I don't know of any), I wouldn't suggest trying to come to any conclusions from the change in EVI's short position.

To: Amelia Carhartt who wrote (24453)	6/20/1998 4:20:00 PM
From: NucTrader	Read Replies (2) \| Respond to of 95453

>>it looks like EVI,CDG & UTI are the stronger bets<< Well I hope so since I'm long CDG. Presumably these are knowledgeable shorts who have covered as opposed to the other kind. But keep in mind it's a double edged sword. When a stock starts to fall, shorts begin to reach their profit goals and cover [yes, shorts can sell too soon too]. This acts as a brake on the fall in stock price [short covering]. Thus, stocks with large short interests sometimes weather disaster to their stock price better than stocks without a large short interest, at least in the near term. So........if a hurricane blows through the sector, the 3 stocks named above may decelerate in price more, rather than less rapidly.