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

To: fut_trade who wrote (3426)	7/27/1998 11:55:00 AM
From: Oeconomicus	Read Replies (1) \| Respond to of 13953

Peter, I see that it is shorts that had settled by the 15th, indicating that 3.4 million shares did cover between mid-June and July 10. Seems odd to me unless some saw a double bottom and positive strategic moves by the company and just decided they weren't so bearish any more. The only significant news, though, was ShareData and the joint venture. Perhaps some assumed/guessed that Softbank would make an investment in addition to the joint venture. That was announced on the 9th and volume went over 2 million for the first time in a while, but less than 1 million traded on the 10th. It looks like the shorts that covered those 3.4 million shares were either mindreaders or lucky (or just changed their minds about EGRP like I did). Then again, they could be covering now at not much higher than on the 10th. :-( Even Bikergirl had another chance last week to cover her 26 1/8 short at a profit. Bob