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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Kerry Lee who wrote (20352)	1/24/1999 11:34:00 AM
From: George Dawson	Read Replies (2) \| Respond to of 29386

Kerry and Andrew, I think there is a good chance that the short interest will continue a down trend. Looking at the charts and the short interest build up - the Series C deal was announced on Feb. 20. This was followed by a significant small jump from the baseline short interest of 400K/month for March and April and then progressively greater jumps to the max. of 2.3M in October. Since then the decrease in short interest has correlated the conversion winding down. During the same time the total shares has increased and I would expect this to increase the total short volume per month that could be supported and I would expect that number to be somewhere between 400K and 1M shares. As you both pointed out, the other dynamics would be those people in at low cost who wanted to box their position or momentum players taking short positions. I think an equally compelling story can be made for the current news, "leak behavior", and completion of the conversion alone to account for the price action. The same forces that dropped the price from the 52 week high can put it back there. We will know for sure in a few days when the short interest is officially posted. George