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Gold/Mining/Energy : MADISON SYSTEMS(MADI) Multi Million Dollar Contract -- Ignore unavailable to you. Want to Upgrade?

To: J Walter Jacobs who wrote (2361)	1/20/1999 5:06:00 PM
From: xbrent	Respond to of 5832

I have heard rumors of 100,000 shares short. There undoubtedly are some short positions outstanding. I have also heard rumors of well over that but I think that 100,000 may be as good a guess as any. Last Sept I saw some short covering when it ran and talked with a broker about the number of short shares outstanding. The broker knew who the short group was at that time. I would think that the MM's would cover ,if they are short, and still be in the money since they would have shorted in the .60's or so. The same with any other short holders. I would be surprised if there were many shorts that originated in the .30's or low .40's. Not much reason for the MM's to sell shares that they don't own at this level. They should have sufficient inventory to cover the stock in recent trading. I do think that the shorts will cover in a hurry as soon as we cross into the .50's. The last time MADI ran it ran into the .80's. This time we should exceed that by a considerable margin, IMO.

To: J Walter Jacobs who wrote (2361)	1/20/1999 6:31:00 PM
From: xbrent	Read Replies (1) \| Respond to of 5832

Maybe the MM's don't have any shares at the present time which could be a reason why they don't like limit buy orders. That would surprise me, but I am open to any opinions as to why that might be. I had just assumed that the MM's would be in the vicinity of flat to having inventory at this point. I have assumed that MADI sold off since the last run into the .50's. Should we spike into the .80's in fast trading then I could appreciate some of the MM's having a problem.