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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Timoteo who wrote (5242)9/9/1997 6:19:00 PM
From: Brent   of 9285
 
All: Could someone help me out? Enamelon looks like a great shorting opportunity.

ENML has a float of 1.7m and 8m outstanding. They are going to do a secondary offering of 2m (500k coming from insiders). So float will more than double and outstanding will increase by 1.5m.

With the float doubling and daily volume at a paltry 42k, this looks like a tremendous short opportunity to me. Is my thinking correct or is it invalid because of institutional support on the secondary offering?

Please ignore long term rationals, in this case I am only concerned about the short term when the shares are issued.

Any opinions would be greatly appreciated.

Thanks,
Brent
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