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Electronic Arts Inc. (ERTS) Message Board

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  • bullkiller_1929 bullkiller_1929 Jul 12, 2002 10:58 AM Flag

    bullkiller . . .

    The 10 million shares you believe are short are long gone.

    There are not many shorts left here to push this higher. At the most their is 4 million shares short and shares will not be covered for a long time as they are used as a hedge. After the S&P announcment the remaining shorts covered.

    EA will fall, and it does not matter where you are short. Anything above $60 is gravy. Let EA run as much as it can. The higher it runs the harder it will fall, because there are absolutely no legit buyers nor has there been any for the past half year.

    People have given up shorting EA. They have watched the NAZ and DOW BOTH collapse and still see good old EA making new highs. They left and when they leave, the stock falls.

    So let's burn the last of them one more time before we collapse.

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    • You could be right but I highly doubt it. There are plenty of people who think this stock is overvalued, so I doubt if they'll cover at this point.

      Anyway, here's where I get the 10 mill number from.
      http://www.nasdaq.com/asp/quotes_full.asp?kind=shortint&symbol=ERTS%60&selected=
      ERTS%60

      • 1 Reply to dayz_n_confzd
      • I have seen that, but it is not current. That was last month's data, which hasn't taken into account the few big short covering days we have had these past few weeks.

        The shorts on this stock cover fast. If you check your link you will find that more than 1/2 the shares short can be covered in as little as two months:

        Jan. 15, 2002 3,627,996
        Dec. 14, 2001 5,561,018
        Nov. 15, 2001 8,287,583

        Next month's readout based on the the volume traded this month leads me to beleive that the number of shares short will fall into the range of 4-6 million, most likely at the lower end of that range.

        We just have to wait and see. Either way, a good pop or spike up ie. short burn is always a good to see as rarely ever does a stock begin it's turn downward from a flat chart.

        I wouldn't be surprised to see 70+, but that would mostly be wishful thinking. I'll take it if I can get though, but in the mean time, I am not going to miss out waiting for it either.

 
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