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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: michael r potter who wrote (3056)	6/8/1999 5:18:00 PM
From: still learning	Respond to of 4467

BTW PAc West, Telecomm (an SFE co) has a huge issue pending before the PUC arbitrator. I hear Pac Bell ows Pac West $50 million in back fees that it's withholding. California Decision May Raise Internet Access Costs currents.net "California Internet users may find themselves paying higher rates for access if the state's phone regulators decide that Internet connections will no longer be treated as local calls. A ruling could be made as early as Thursday by the California Public Utilities Commission (PUC). Pacific Bell, the dominant "Baby Bell" in California, wants the regulators in effect to redefine ISPs as long distance companies. The argument is based on the fact that ISP-originated calls can terminate at servers anywhere in the world. " >>>Anyone know what happened on this decision due to be handed down >>>last week or this week? biz.yahoo.com >>>Looks like decision is delayed at least one week.

To: michael r potter who wrote (3056)	6/9/1999 12:00:00 PM
From: Tom Bunge	Respond to of 4467

Thanks for your comments yesterday, Mike. One simple question, if you do not mind. Those 16,000 June puts expiring this coming Friday, shouldn't one assume that as they are being liquidated on or before Friday (most likely after today) ... there will be an equivalent 1,600,000 shares dropped on the market; in which case the stock may lose a bit more than 3 points. I was looking at the cost of protecting a long SFE position by July puts. The premium on the "on the money" 70 puts are 8.50/9.00 with the stock @69.50; isn't that hawfully expensive? Doesn't it say something rather strong about the immediate future? Meanwhile, the cost of buying a 115 put (aside from the instrinsic) remains at 1/2 point(plus relatively nominal cost of financing). May I ask what you think and what instrument you would pick to protect a long position, at this particular juncture?