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UnitedGlobalCom, Inc. (UCOMA) Message Board

  • onetruepro onetruepro Oct 25, 2001 1:45 PM Flag

    Short Squeeze?

    The short interest as of 10/01 was about 6 days avg. trading volume, compared to about 10 days on 8/1/01 and 9/1/01, so it's actually come down on a relative basis. In absolute terms the short interest only dropped about 1 million shares from 9/1/01 to 10/1/01. In any case, it's us longs who have been sqeezed. All this about the marketmakers having to reduce the float significantly by month-end is irrelevant amateur bull, I'm afraid. But that doesn't mean it won't rally sharply,fueled by short covering as well as new longs, if this bond tender is successful and/or there is good news on the financial restructuring. I suspect a good part of the short position is being held as a hedge against leveraged long spec positions in the bonds.

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