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To: Chuck Molinary who wrote (14174)	10/2/1998 9:27:00 AM
From: Estimated Prophet	Read Replies (1) \| Respond to of 27307

Probably overstated my point about the shorts. However the volume on such a down day in the market led me to believe that a lot more shorts covered (yes, I did too--that's two of us out of two) than sold. I agree that lots of shorts prop it up. I just don't know how to explain all that volume on a down day.

To: Chuck Molinary who wrote (14174)	10/2/1998 9:32:00 AM
From: Jock Hutchinson	Read Replies (2) \| Respond to of 27307

Chuck: Estimated Prophet is just another goofy know-it-all who thinks he knows something about shorts. Let me clue him in. A large majority of shorts are traders who are taking an arb position in a stock. It means that they use the short position to be "short the box" during the course of the trading day so that they are not prevented from shorting a stock by the "uptick rule". A great example of this was yesterday, where if one was not "short the box", one simply could not have shorted YHOO during certain time periods yesterday, simply because there was no uptick on which one could short the stock. The irony of this simpleton's analysis is that there are many traders who have "short" positions in YHOO who are huge bulls in YHOO.