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Non-Tech : Paired Trades and Hedging Strategies

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To: Biomaven who wrote (28)	12/8/2004 3:38:53 PM
From: Sam Citron	Read Replies (1) of 136

While I had been thinking about the long satellite radio short conventional radio pair (XMSR/CCU), suddenly a different pair, XMSR/SIRI, had a huge move today on the basis of a WSJ article and 2 SIRI downgrades. I took a small long position in XMSR yesterday, but unfortunately covered my premature SIRI short position a few days ago. These are small "experimental" positions as I better familiarize myself with the trading patterns and characteristics of these companies. Sam

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