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Technology Stocks : Presstek -- Stock of the Decade?? -- Ignore unavailable to you. Want to Upgrade?

To: Joe Wise who wrote (10139)	11/3/1998 11:55:00 AM
From: Mad2	Read Replies (1) \| Respond to of 11098

Joe, below is a link to analysis of specialist short interest which is reportedly at a all time high (bearish signal???): marketgauge.com It seems that all the companies I follow with a significant short interest have jumped in the last few days. Last I checked (October 19th I think) short shares outstanding were around 3 mil of a total of 32mil. Normal volume for PRST is around 177, daily. I think abnormal volume of the past three days is around 600, (less the 177,). At best you can figure 1/2 that is buying for short covering. See mesg10133 from Scott indicating short covering. As there is no new news out on PRST, IMO PRST is getting swept up in this latest bounce. The high short interest is is fueling it as it is with many other stocks. Correction is due. As it relates to PRST, most on the thread belive it's overvalued based on current and near term earnings. The longs (Scott and Neil) discount the near term prospects and embrace the long term view of digital printing(that assumes a dominant role to be played by PRST). Little is known and certianly isn't public about what PRST sees in the future. Their past SEC problems I think are giving them pause concerning premature fueling of future expectations. They are in a growth segment, however as they aren't the only game in town what will the competitive landscape do to margins. It gets a bit complicated when dealing with OEM's like Heidleburg etc, who don't want to see a single supplier be too strong in the market. PRST has a deal with Heidleburg, however so does Kodak (plates) and CREO(imaging). As I have been involved in OEM supply to the auto industry (very competitive) I see some similarities here between Heidleburg and PRST/CREO as suppliers.