This arb thing can't be true for a couple of reasons.
1. The biggest, you can't trade apples for oranges. You can't trade a dollar amount for a certain amount of stock on an arb. If that was true people would buy every damn share of TUNE in existance. Who cares about the price, I got a $1000 worth give me my $1700 of T. Wouldn't matter if you had 200 shares at 5, or 5 shares at 200. Arb guys would be buying the hell out of TUNE and shorting or putting the T. They ain't, their was some decent size trades, including that 65k block but that's nothing compared to what you see if the ARB was really as posted, it would be a madhouse.
2. There's no conversion. Can anyone show me where TUNE converts into anything? It doesn't. LBTY may own 80% of it but that doesn't mean you can trade your TUNE for LBTY. CMGI owns part of LCOS, I can't trade LCOS for CMGI unless CMGI want's to buy what they don't have. If anything, if the stock runs they might sell some of it off, free money to invest into something else, while maintaining controlling interest.
The reason TUNE was up today was because of a story on dayinvestor.com and also some "big time" daytrader Cheetah was supposedly hyping it on #daytraders on irc. Chances are the blocks were people at one of these sources buying in for the pump and dump. Here's the dayinvestor story.
9:40am est. TUNE - An Alert from "The Floor": 4 5/8 x 4 3/4
Microsoft's scheduled release of the latest version of its browser Internet Explorer 5.0 tomorrow Thursday March 18,1999 may have some hidden benefits for this stock.
Microsoft Corp. plans to include a "radio" button in the browser's tool bar. The button will let users click directly to a page offering an online radio tuner. The tuner will customizable and offer pre-set links to audio content from providers. Microsoft has put online radio stations on the desktop and in the public eye.
Tune is trading at support off its chart lows and had some large blocks yesterday Tuesday March 16, 1999
If anyone can show where TUNE converts into LBTYA or B or anything else i'd like to see it.
CMB |
