Shorting stocks: Broken stocks - Analysis Message Board

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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Q. who wrote (999)	4/10/1998 12:59:00 AM
From: drakes353	of 2506

Hey John: Amazing volume. What I'm wondering is who is playing backstop to all these shares? If it's someone that knows what's going on with the converts (you'd figure they do if they are buying a big chunk of shares) then why don't they just step aside and let the thing crater and then start buying. Don't know whether or not the involvement of the specialist is muting the impact of the converts here. Mandate to maintain an orderly market and all that. Guess we're kind of in virgin territory here what with this being an NYSE issue. Will be interesting to see how it plays out. Those NASDAQ market makers are much kinder to us the way they all seem to take a powder whenever convert selling takes place over there. drakes353

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