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To: chichi who wrote (6903)	2/21/1999 7:00:00 PM
From: William Epstein	Read Replies (1) \| Respond to of 7841

chichi; You ask where I get may statistics from regarding short interest. From the NYSE's own published data. I will provide it from the specific source, if requested but it will take some time to find it. Now you say that the majority of short positions are held by funds of various types. Of course, the specialist is only one group so two others would outnumber the specialist group. However, without being coy, I want to ask you where you get your statistics from or are they simply an assumption? I understand how specialists use short interest to make a market. What I am saying is that they can and do use it to control price. Significant arbitrarge shows up in the Barrons statistics, reported monthly, by the addition of an asterisk. It can also be obtained from other sources. The majority of toal short interest is held by the specialist and floor traders for their own positions. How long it is held is speculation BY MYSELF. PHOTOMAN