Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Arthur Radley who wrote (12172)	10/30/1997 5:10:00 PM
From: Russian Bear	Read Replies (1) of 18263

TD, I have long speculated that the Cayman folks would short the heck out Zitel, while using their convertible deb.'s as a hedge. The lower ZITL goes, the more they can short, and the more shares they can convert. This scenario did not appear to be playing out when short interest declined for Oct. But, now I am beginning to think it was correct, all along. Perhaps the short interest decline occured despite the continued shorting of the Caymaners, not as result of their covering their hedge!? Just some speculation... RB (shorter and happier)

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