Roger's 1998 Short Picks Message Board

STOCKTALK

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Pancho Villa who wrote (3341)	2/20/1998 3:59:00 PM
From: Eric Klein	Read Replies (5) of 18691

Pancho, on CIEN: Closed out the short at 41, down 17. Ummm, in this market, profits on shorts are hard to come by. I may re-short if it makes it back to 45. Tried to short TALK (Schwab, no shares available) which is up big ($28, +3) on news that they're trying to sell the company. The current market cap is $2 B, last quarter they lost $0.32/share, -$0.33/share for the year (would have been around -$0.48/share if not for tax benefits). They're the guys who paid AOL something like $100 Mil to advertise on their site. Now, I wonder, Who's going to pay upwards of $2 B for a company with sales of $300 M and an advertising bill of $100 M in a low margin business like long distance?

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