Wednesday, August 20, 2003 11:32:38 PM
Good evening Larry,
You're correct that the recent rise in share price may not have been secondary to short covering....in fact, I absolutely believe that it had nothing to do with the shorts. Having said this, the explosive volume allowed the shorts an opportunity to cover without driving the price up tremendously. One could also argue that the recent dramatic rise has also invited a new group of shorts to intitiate a position. If the company begins to execute....the new shorts will provide us with some iteresting fuel
Sincerely,
Jas
You're correct that the recent rise in share price may not have been secondary to short covering....in fact, I absolutely believe that it had nothing to do with the shorts. Having said this, the explosive volume allowed the shorts an opportunity to cover without driving the price up tremendously. One could also argue that the recent dramatic rise has also invited a new group of shorts to intitiate a position. If the company begins to execute....the new shorts will provide us with some iteresting fuel
Sincerely,
Jas
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