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Technology Stocks : SEVL -- Ignore unavailable to you. Want to Upgrade?

To: Probart who wrote (451)	3/8/1999 2:19:00 PM
From: Mark L.	Read Replies (1) \| Respond to of 703

The squeeze has just started... I have no opinion about where the stock is headed, but I do have an opinion about a squeeze. I think it's unlikely. This morning I tried to get an allotment of shares to short. I was told at one of the firms that I deal with that I couldn't have what I wanted. I thought this was strange because I am a quite respectable account at the firm, and the number of shares I was looking to get was not that large (less than 100,000). I was told that it was too bad because the big fish had come in and already reserved them. I eventually had a couple of calls made and got the number of shares I wanted reserved, but the point is that there are much bigger fish than me out there, waiting. I've shorted 25% of my day's allotment so far. That's 75% left to go. Assuming that the bigger fish are doing the same as me, that's a lot of overhead supply. The stock may go to 20 today, but it won't be because of a squeeze. It'll be because of buyer interest.