MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

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Aug 15 5:00 PM EST

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To: Sector Investor who wrote (12668)	4/10/1999 6:31:00 PM
From: rascalbythesea	Read Replies (1) of 42804

Hi Sector...I have no problem with the shorts. The day will come when they will add substantially to the buy side of the equation. My problem is I am not sure that the notes caused the big position. If the institutions that bought the notes were the shorters, they would have been happy covering at the 5-6 level that MRVC has been at for the last 9 months. The pregnancy period is now over and it is time to give birth to the new MRVC. Mr.Pink did say he covered at $7 and made a handsome profit. That is what any good businessman would have done. My hat is off to Mr.Pink,However I don't think him and his crowd were responsible for the 4 million share short position. Probably only a small portion. That means there were many other traders on the short side in April 1998 and if they covered when the notes were sold to be replaced by noteholders who were now short. They would have covered a big position in the 25 range(unlikely). I guess we will just have to sit back and watch this scenario play out. Maybe someday we will learn exactly what happened. Benny

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