*GOOD NEWS* There WILL be a PR before ANYI begins trading, which means BANY should be in for quite a ride when trading is announced.
Trading MAY happen sooner than we (I) was expecting.
Thursday (3/4/99) is end of the 30 day comment period, so ANYI/BANY should get comments from the SEC on or before Friday. These comments may include "go ahead and trade," or could ask for some supplemental info, which ANYI plans to respond to promptly. ANYI will issue a PR as soon as they get the trading o.k., which should be good for BANY.
I expect a brief (2-4 day) promotion period for ANYI before it begins trading, so that EVERYONE will know about it. This "promotion" period will be where most people will be able to make their largest profits if they don't get greedy IMO.
So, earliest trading? Maybe a PR Friday (or even Thursday), and trading next week.
Longest wait? No more than 4 weeks by most accounts, ~April 5 is the 60 day "effective" period where ANYI can begin trading anyway.
The MMs who filed the 15C211 (?) will be allowed to trade ANYI as soon as the company tells them its o.k. The first MM to file the 15C211 (2/8/99) was ~Bay Capital Securities (Rosemont?), it appears that ANYI will have Bay post a bid and ask shortly after the trading date is set. I thought about getting some more BANY this morning, on a hunch that ANYI trading may come early, but I missed it. A dip to $1 again might be a good opportunity. Otherwise, I'm still hoping to get ANYI as cheap as possible.
Looks like a few folks are back to "buy on the rumor" right now. IMO BANY will still have a 1 million volume day. The 'pop' may be significant. I've already expressed my feelings about how BANY could react after ANYI actually begins to trade, I hope I'm wrong. But if I'm not, I'll probably buy more BANY if it over corrects/discounts.
Good luck to all, looks like March could turn out to be a good month for all non-selfish investors:) |
