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Technology Stocks : NewCom (NWCM) -- Ignore unavailable to you. Want to Upgrade?

To: John Dee who wrote (592)	8/26/1998 11:57:00 PM
From: Cool Hand Luke	Respond to of 662

Sorry about the inaccuracy on my short-posting dates - but thanks for putting them up yesterday. I am amazed, to say the least. I cannot believe that Dreyfus has sold nearly all of their stock and the short positions remain essentially unchanged. Where do they think they are going to get stock to buy and cover? Do they honestly believe they have a lot more downside room to play with? Even if the price drops another point or so, the volume is so thin, a mere fraction of covering would rocket the stock. And there is no unrestricted stock out there waiting to cover either! Only Harry (Aura) owns stock that will be unrestricted soon - and I have it on very good sources he is not short. Further, the majority of the longs are not selling - they are either institutional holders (excepting Dreyfus) or retail accounts with a longer view. I have been told two or three brokers/managers have added significantly to their positions in the 7-8 range, bringing their cost basis down from the low teens to 10 or less. I am equally amazed more of the longs, who own shares at a cost of 13-15 have not followed their example - especially with so much positive news out there waiting to be announced. This is clearly one of those rare discrepancies in the so-called "efficiency" of the markets. Such discrepancies usually represent a windfall for someone. Take heart, longs. This one is coming to you.