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Technology Stocks : Cadence Design Systems
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To: Dinesh who wrote (534)9/10/1999 9:14:00 AM
From: Carl R.  Read Replies (2) of 668
 
Since you wanted CDN to go down in reaction to the bad news of the adverse decision, I presume you're short CDN then?

I agree that it is surprising that CDN didn't go down. Normally the market cap gained by AVNT in reaction to the decision should have been offset by a market cap loss by CDN, which would imply that CDN should have gone down by about 1 3/8. Since it didn't, it would seem to indicate that the market believes CDN is overly cheap already. Thus you probably won't get an opportunity to cover your short at under 10 again unless the market really tanks in October.

Carl
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