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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 660.08-0.8%Nov 18 4:00 PM EST

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To: d. alexander who wrote (24018)10/17/1999 9:49:00 PM
From: xcr600  Read Replies (2) of 68107
 
ANCR- I believe the debenture was bought in.

As for getting above the ceiling, it doesn't happen too often and if it does it tends to be short lived. Usually a stock is hyped somewhat initially before the short position is laid out. This gives the convertible holders a chance to short at higher levels. As the price starts to falter they continue to short more and more, thus exerting more downward pressure on the stock.

The si resident expert on junk equity is Zeev Hed. Not an active short seller, but he is interested in how companies issue and recover (if) from junk financing.

btw, I don't have the S&M system down either. Still looking at it.

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