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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: tuck who wrote (9648)2/16/1999 6:25:00 PM
From: Herm  Read Replies (1) of 14162
 
A good 25 blocks hit CHRZ today! I've seen this kind of dumping before. The shorts force the company to make good on the buy backs because few companies do as they indicate.

CHRZ claims they will buy back up to 10% of the outstanding shares through Smith Barney! Heck, level II data feeds should be able to confirm if SB is buying or what! So, the shorts go into a killing spree to force CHRZ to act(if they do). Any hesitation and the stock takes a dive while the MMs are buying everything up in sight to prepare for the reversal. Whipsaws makes lots of money for the all cash folks. Dells less than expected numbers did not help!
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