Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Zeev Hed who wrote (18)	8/3/1998 9:15:00 PM
From: drjoedoom	Read Replies (1) of 1438

Zeev - Don't have time to respond to your other post tonite. I'll try tomorrow. Here's my response to this one: The "run up" on Friday was comprised mostly of one trade of more than 300,000 shares, obviously on an uptick. You imply, but admit that you cannot prove, that the holder of the floorless instruments engineered the advance and perhaps even shorted the uptick. Let me ask you this: Who did the buying? If we can presume that the buyer of 300,000 shares is no dummy, why would he/she buy so aggressively? Who is the floorless owner's deep-pocketed dupe? Takes two to tango; how does the floorless bandit get the other guy to dance -- and pay so dearly for the pleasure? Joe

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