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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (11699)	4/21/1999 1:41:00 PM
From: donald sew	Read Replies (2) \| Respond to of 99985

Heinz, >>>> re: short covering: that's definitely playing a role today. but in several stocks it will take a while to exhaust the short positions, as they are huge. as a for instance: 53% of cnet's float is currently short. 66% of ubid's float is short. etc. <<<< WOW, Heinz, thanks for that info. Im trying to look at the the shorting issue logically. Since there were many shorts on these stocks such could produce further upside since the profitable shorts are cashing in their profits by buying back at the ASK. Once the short covering ends then that could also limit the upside. Also, since this is the first time that it has been successful in shorting the internets, new short positions could arise as they move up in price, which would be initiated at the BID which would also limit the upside on the internets. Does that make sense. seeya