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Technology Stocks : Cadence Design Systems
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To: Nevin S. who wrote (340)4/5/1999 1:15:00 PM
From: GuitarMan  Read Replies (3) of 668
 
Short CDN for these reasons:
1. VP of Sales sold most of his holdings during the past 2 months
2. Large block sales in the past weeks - fund exit ?
3. SEC forced earnings restatement ( not much reaction to this today )
4. This is the big one: On 3/30/99 someone bought a block of 2300 April 30 put options at 4 3/8. This is a $1 Million dollar bet that the stock will go down very soon. This size volume is way out of the ordinary for CDN. Someone knows something. While it could be "just a hedge", I smell a rat.

I have nothing against CDN, and have been in & out several times over the past few years, but #1-4 above are big red flags.
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