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Strategies & Market Trends : ICCSA -- Ignore unavailable to you. Want to Upgrade?

To: tool dude who wrote (140)	6/9/1999 12:25:00 AM
From: Dale Baker	Respond to of 361

I think I will cover half around 6 and hold the rest until we see how low it can go - maybe 2 or 3? At least one Yahoo poster has figured it out: Race to sell before $3 by: Telly_V 276 of 277 The convertible preferred is held by 110 different investors. When they all convert to common shares, they will be doing it at the floor price of $3. They got into this deal thinking it was easy money, selling short shares at $15 and then buying them back later at $3. Now they are realizing that whoever sells first gets the highest price and makes the most profit. A few smart ones sold before the registration and got $15. Others waited until yesterday and only got $11. Today, selling of only 20 thousand shares pushed ICCSA down into the single digits, and there are millions more shares to be sold. Today they are racing to be the first to sell to get the highest price. Before long it will occur to them that when ICCSA falls below $3, they cannot recover all of their capital! When that realization hits, the selling will really hit hard. -------------------------------------------------------------------------------- Posted: 06/08/1999 03:31 pm EDT as a reply to: Msg 275 by trend_breaker