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Non-Tech : Invest / LTD
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To: SJS who wrote (12517)3/16/2000 8:01:00 PM
From: Thean  Read Replies (1) of 14427
 
Steve,
The list also includes RFMD, which in broad daylight I can't figure how they would qualify as the broadband play. They are uniquely positioned as a wireless play. VTSS is more like it. If they really want a wireless/broadband play, I would vote for TQNT instead. Anyway, this is a silly inclusion that I don't mind. <GG>. BRCM does looks to be the biggest gainer from this basket. Please report back to this thread if anyone finds out when MER is going to list them.

Their top 5 holdings have mega floats so the impact of MER's actual purchase will not be as much as the impact on the smaller floaters such as RFMD and AMCC. If I get a chance I am going to compute their weightage adjusted by the float and re-rank them so as to assess the apparent impact of MER's creation of the basket. Good academic exercise but only if I have time.

CNXT - my read on the option activity only suggests that CNXT has an unlikely chance to close above $90 since it has the most OI. Today's Mar 80 call volume is a heavy 583 and assume most of this is call buying and the semi's close flat tomorrow then CNXT has a good chance of closing at $80. If the upside pressure overall is great then maybe CNXT will close at 85. The put activity is a wash because I think a lot are put writing so I won't even venture there. But since the overall put OI is greater in 80,85 and 90, I think there will be plenty of fresh shorts tomorrow for the purpose of closing the written put positions. I know I will likely do just that since I don't want the stock.
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