Short interest unchanged

El Corton

July 25, 2006

The NASDAQ has released data on short interest settling July 15. The short position in SCOX was 3,833,951 shares, down from 3,834,780 on June 15. Average daily volume was 91,533, compared to 21,584 in the prior period. Days to cover declined to 41.89 from 177.67 due to the increased volume. Average days to cover for all NASDAQ issues is about 3.

So there was essentially no net short covering in the reaction to Wells' ruling. We should expect to see some considerable shifts in institutional holdings as reports for the last quarter come out.
< EOM >

4:27:57 PM


Re: Short interest unchanged

Panglozz

El Corton:
>>We should expect to see some considerable shifts in institutional holdings as reports for the last quarter come out.<<

I don't think we will. Quarter ended on 6/30/06-- the million share day was 7/3/06, after the close of quarter. These shifts won't be reported until Nov. 15. We will have to wait for that answer.

The month before the quarter close, and the entire quarter had exceptionally low volume-- 600 share days-- so little 2nd Q readjustments can be expected.
< EOM >

4:37:35 PM


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