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Non-Tech : Cityscape Financial (CTYS)
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To: Allen Furlan who wrote (1314)10/22/1997 4:43:00 PM
From: Zeev Hed  Read Replies (1) of 2544
 
Allen, you are right, and Aksef was another case of a floorless situation. I even used to be the $2 man, there, until I finally decided (pretty close to actual bottom at 2.375) tio call it a buy. Their migh be a time when I'll cahnge my opinion on this one as well. However, since we will be dished floor less paper until next March, I do not expect the situation to improve much. I think your puts are safe andyou might even paly them for the one point swings that are going to occur as the stock explores lower and lower lows. I think that it is not onconceivable that this one evetually goes sub 1. So playing the rise and reselling lower is not a bad game. Of course, you will not have that game past January, since they will probably not start another series. Same as Aksef.

Good hunting. Happy to see some people making money.

Zeev
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