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Technology Stocks : Cymer (CYMI)
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To: Emile Vidrine who wrote (8373)11/5/1997 8:22:00 PM
From: Elroy Jetson   of 25960
 
If I bought a bond offering a minimal interest rate and the chance to convert at a fixed price, say $47, I too would short the stock to protect my conversion interest.

You could even keep it off the books by using options to effect a short position. The fact that the currently reported short interest now equals the number of shares the outstanding bonds convert to implies the downside pressure is over. The stock price over the past week reflects this.
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