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Technology Stocks : Winstar Comm. (WCII)
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To: SteveG who wrote (10079)1/20/1999 8:44:00 AM
From: Steven Bowen  Read Replies (2) of 12468
 
Thanks Steve,

I'm sorry though that I clogged this thread, on a great day for WinStar, with somewhat off topic chatter.

I thought it was important though to stir the pot and see what kind of decent reasoned thoughts came to the surface. I really don't see that we can take it any further than this though.

The evidence to me clearly shows that the possibility of collusion was there. In my mind it happened, and no one has presented a decent arguement that has swayed me. We may never know.

More on topic;
Do you have any thoughts on the status of the convertibles?
There was much talk during the collapse of Long Term Capital that they were heavy into these, and maybe it wasn't a coincidence that WinStar collapsed to 10 at the same time. My thought is that maybe these have been traded around such that Morgan Stanley, or any of their customers, have nothing to do with them anymore. And certainly they may not be held in such a huge block that manipulation would be possible, or the profit potential large enough to warrant manipulation. My theory is also that most of the 5 million shares these will convert into were shorted during the last assault on this level, such that more shorting can't happen now.

I guess my bottom line is I don't expect the convertibles to be as much of a factor this go around. Any thoughts?

Steve
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