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Technology Stocks : Cymer (CYMI)
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To: nycnpbbkr who wrote (8429)11/5/1997 9:46:00 PM
From: D.J.Smyth  Read Replies (3) of 25960
 
NYC, of course this is what has happened. it really isn't a question of "did they are didn't they" in my mind. as you know and as you and i have indicated in the past, shorting against falling par value is simply a hedging technique - these institutions don't dislike CYMI or disbelieve in its product, they are simply protecting their original investment. they were probably advised to do this at some point by Bret, Jay in concert with State Street. we both pointed this out last week. why someone thinks this is unusual is beyond me. the unfortunate facts here is that the small investor is getting induced into shorting CYMI further.
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