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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: George Dawson who wrote (19581)	11/29/1998 1:57:00 PM
From: nic	Read Replies (2) of 29386

Thanks George! Very interesting... I quote: When a Nasdaq security [...] has a clearing short position of 10,000 shares or greater and is equal to one-half of one percent of its total shares outstanding, NASD [...] requires that any short sale [...] be delivered no later than the tenth business day [...] Apparently a safeguard against undeclared short selling. I assume the "clearing" short position is the short position for which shares have not (yet) been delivered. A consequence for the "safe conversion game" which we've tried to follow (though it's played at night without floodlights) might be the rule: do not short ANCR more than 2 weeks before your next conversion. - nic

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