Qwest Communications (Q) (formerly QWST) Message Board

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Technology Stocks : Qwest Communications (Q) (formerly QWST)

Q 90.31

+0.9%

Jan 9 9:30 AM EST

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To: David Lawrence who wrote (3973)	6/13/1999 6:41:00 PM
From: Tony Wang	Read Replies (1) of 6846

I'd be out of QWST real quick and into GBLX with the funds. The Wall St short position on GBLX is huge. As of 5-10 it was 11 million shares. Add the arbitrage shorts developed on the announcement of the GBLX/USW merger, the short ratio to average daily volume is at least 7 to 1, if not much more. Which means if the shorts decided to cover there ain't enough shares in the average trading day for them to buy with out moving the price up substantially. Plus, GBLX gets $850 mill as a break up fee, plus a guranteed bid at $62.50 for 9.5% of their shares from USW. More the GBLX board were unhappy with the selloff in their stock, so it does not look like they will be bidding higher. I hate to be the guy who is short GBLX on monday.

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