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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Duke who wrote (2252)	3/28/1999 3:13:00 PM
From: Joe	Read Replies (1) \| Respond to of 4140

Duke, I have a feeling you have more experience in the market than I do. Hence I will defer to your logic regarding the nature of shorts. But I will explain my thinking. I think that if the shorts don't start covering before ASCRS, there is not much time to make an orderly exit of their short positions before the Panel meeting is announced (two or three weeks after the show). The fact that the short interest has increased and the daily trading volume has gone down tells me that there fewer investors willing to sell their stock at these prices let alone 2MM shares to shorts trying to cover. Why do I place so much emphasis on ASCRS? For the same reason I placed a lot of emphasis on AAO. As I pointed out, AAO and news in December and February was able to take SNRS from the $3.50 level to a $14 peak and a $9 sustained level while at the same time the market absorbed an approximate 15% dilution (5.3MM shares) from the private placements. These meetings bring new money into SNRS, a lot of new money, just as they did for VISX and BEAM prior to FDA approval. I think there will be an inexorable upward move after ASCRS to the Panel Meeting. While TA may be correct and we may see 8 1/2, why wouldn't a short want to lock in his profit at 9 or 9 1/2 to get a jump on the bigger shorts. It is going to be hard to find many sellers between ASCRS and the Panel meeting. Since I don't short stocks, I don't know how they think. It just seem logical that they would want to cover before ASCRS. Joe