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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Mama Bear who wrote (13371)9/1/1998 2:02:00 PM
From: chester lee   of 18691
 
Barb,

ALTIF run up is probably due to short covering by the convert holders who now has nothing to convert, as the convertibles were bought back by the company. Per Jon's research, ALTIF is probably going sub-$5, but not until the P&D, momo buying, and short covering is complete. Since the convertibles were bought back, my original reason for shorting ALTIF is gone, so I covered this morning at 5-5/8.

chester
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