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> The company has about 12,500,000 shares outstanding and traded 25,000,000 5/4/98.It > ran from 12 to 84 and has an average share volume of 65,000 It closed about 51.I > think a short any where over 48 will be profitable, the more patient the short trader > and the higher it spurts the better.
>
> People who buy on this type of news generally are fidgety.Greater than 100% turnover > of outstanding stock is not a good omen unless mutual funds are doing the buying which > I doubt.
>
> These are just my opinions and short trading principals.
>
> John
Good luck trying to short this! A friend of mine from Smith Barney told
me yesterday they did not have a single share in the system to short
against. With a 200% turnover it's unlikely anyone else could find any
either. On another interesting note, the highest strike price yesterday
was 17 1/2, and those puts were well bid early in the day, I guess from
people thinking the same as you.
KJL
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