Stocks that Shorts See Heading Down

COMPANY                                         STOCK   YEAR-TO-DATE
                                                PRICE*     CHANGE

AVANT! CORP.                                    16 3/4       -47%
Shorts are wagering that legal problems
will soon submerge this company.

BIOTIME                                         19 3/8       113
Makes artificial blood. Shorts feel a
cheaper product poses a competitive challenge.

CAPITOL BANCORP                                 30 5/8       121
A standout performer among regional banks--but
far too pricey, says one skeptic.

COMPUTER LEARNING CENTERS                       57 1/4       201
A huge gainer this year, shorts feel it is
overvalued and uses aggressive accounting.

FIRST AMERICAN CORP.                            49 1/4        71
A Tennessee bank with a lot going for it. But
shorts feel it overpaid for an acquisition.

FOOD TECHNOLOGY SERVICE                          6 1/16      593
Food irradiation has put this company in the
driver's seat, pushing the stock high. Too high,
say skeptics.

GUMTECH INTERNATIONAL                            8 5/16       36
Shorts question the profit potential of this
small chewing-gum company.

MILESTONE SCIENTIFIC                            17 7/8       258
Manufactures disposable dental equipment.
Shorts are wagering its high-flying stock will
soon tumble.

MULTIMEDIA GAMES                                14 9/32      182
Bingo is choice for this company, which shorts
are wagering will fall back into the single
digits.

OBJECTIVE COMMUNICATIONS                        15 3/8       180**
This recent IPO has soared since it went
public. Shorts feel the company's prospects
don't justify the price.

*As of Dec. 15
**Since IPO, Apr. 3, 1997

DATA: BW, BLOOMBERG FINANCIAL MARKETS