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Strategies & Market Trends : Charts for Quick CASH $$$

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To: HeyRainier who wrote (5890)	1/30/1998 4:14:00 PM
From: Galirayo	Read Replies (1) of 9262

[ HELP Me Mr Wizard ] Rainier, I need Help Guy. Here's the Scoop. We have a Co. CMYN ... I show it's Book Value at 2.60. It's in the process of Offering ... Preferred Stock. Currently trading near 1/8. Since the Preferred takes Presidence over the Common in the Case of a Liquidation there may be some waiting buyers (vultures) for the Preferred. Today the Co Announces " Withdraw of the Preferred " biz.yahoo.com Hence, the Stock Shoots 300% in 1 Day because the Demand (vultures) for the Preferred is/are there but now the Preferred Shares are not available. So they settle for the Common instead. En Mass! Sound Reasonable? Ray I guess I'd be totally Wacko if I bought back in on a dip. :))

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