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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: Randyfb who wrote ()9/23/1999 11:14:00 PM
From: farmerBill  Read Replies (1) of 1208
 
I've been lurking, just joined SI. I own a bunch of tct bonds, recently shorted stock to establish a hedge for two reasons. First, it tct trading is halted, I can convert and have taken my tax loss. Second, if there is a reorganization involving shares for debt at market related prices, which I think is desirable and inevitable, it would extinguish my short and leave me long stock besides.

A run up in stock has no effect on the margin for a convertible hedge, so it isn't going to squeeze me out. (Don't start licking your chops.) I also bought some bonds today at 10. Trading at a discount to stock, they were a remarkable bargain.
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