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Non-Tech : IMPX The New Folder: Post all New Messages Here!!

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To: Curtis Frazier who wrote (6)	6/7/1996 3:23:00 PM
From: Bill O'Connoy	of 115

Curtis: As we say in the bond market, the convexity of shorting a $12 dollar stock is a whole lot worse than shorting a $17 stock.......how much can you make on selling short a $12 stock that was recently over $20.....the risk/ reward is now tilted in our favor (the unfortunate longs) and while the stock should have traded down today with the market getting banged and interest rates sharply higher, I believe some shorts covered on their version of good market news (like real pros do) and I'll say again that this is a $10-14 stock until some real news comes out...... (and once again, lets hope the insider selling really was profit taking and not bailing out on some very negative news that has not been made public yet).......Bill OC

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