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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (998)1/20/1998 9:51:00 AM
From: vegetarian  Read Replies (2) of 18691
 
OK thread, here is a floorless convertible gift.
CFON announced a floorless convertible of about 4M on December 31, 1997.
biz.yahoo.com
They have more shares outstanding than either HCOM or ESMC.
It is in the ideal stage where the announcement has been done and the shorters have not driven it into ground, the announcement was done when stock was at about 6 7/8, trading around 6 1/4 today where I shorted it.
Also they have been losing money and TA indicates a symmetric triangular consolidation most likely to break on the downside with a 2 point minimum downside.
Was planning to shorting HCOM and ESMC today but they ran away on the downside.
Good luck
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