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Technology Stocks : CHPS
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To: Peter who wrote (2642)1/6/1998 6:06:00 PM
From: mike mccann  Read Replies (2) of 2740
 
At this point I don't know why anyone would pay 16-1/4 for a stock which can only appreciate another 1-1/4 if the deal goes through, but will easily fall 5, 6 or more points if the deal doesn't go through. That would only be justified if the chances for a successful merger would be 85% or so, and I just don't believe it's anywhere near that high based on current put pricing. A short position would make much more sense, especially if another 1/2 point or so is added in the next couple of days. Then it's a no-brainer.

Mike
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