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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: The Freep who wrote (19047)	10/31/1998 6:00:00 PM
From: Eleder2020	Read Replies (2) of 29386

>> they might know that nothing will happen at Comdex and they can anticipate a sell off of some kind and will use that to help them lower the price.<< Freep-It is a good point. Well if i were trying to think like a Reg D guy this is how I might think about it. If I were trying to try to short one more time because it would help me lock in a better price tomorrow would be my day. 3COM will announce that Gadzooks will be their FC switch maker tomorrow and the perception may be that this is an Ancor loss(though usually Brocade wins are the real Ancor killers).Roll the dice and short? So taking it a step further you get to convert 2 million shares that you got in the low 1's I think on this Monday. What do you do? Sell the conversions for a nice profit and kill the share price of Ancor which helps your next conversion price that you finally have to use to cover your short or use these shares to cover your short with cheap shares? I really have no idea what to do but this is what I might do if I was a Reg D holder. 1)I would not short at all or perhaps short a small amount. 2)I would sell off 1/2 my long position 1 million shares over the next month to pull out a profit of 40 -70 percent. 3)I would use the other 1/2 of my long to make sure I'm partially covered on my short position because ANCR may still go up despite selling 1 million shares(Wouldn't that be great) 4)Now if my 1 million in sales knocks the wind out of ANCR price again the conversion rate is again favorable to me and I would short more only if I thought it would further erode the price. If not with the end of the conversion coming near it doesn't really benefit me to short as Ancor appears to be doing better and I still have 1 million cheap shares with to million more coming over the next 2 months. So the question is Do you go long which in effect means you do nothing this month except convert. You can use those shares to box your short or go long with and box your shorts with a later conversion OR do sell 1/2 and box 1/2 or do you sell the entire conversion again? Any Reg D holders care to tackle that question. Ed

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