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Strategies & Market Trends : Temp. Home of Cooperative Group-Trading -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (54)	6/19/1999 8:30:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 790

Bill, so far the MVIS short is following the script, the 20 days lapsed last Thursday, and the support at $24 has given way. $28 to $23, is a good beginning. What surprises me is that the warrants were not fully converted voluntarily by now, possibly some people still think that it is a good way to leverage owning MVIS. It just occurred to me that if the warrants are shortable, they might be a better short than the stock since if the thesis that the stock will go down to within few bucks above the conversion ($12/warrant) in the period ahead, is correct, the leverage on the warrants would be greater. The company can (and most probably will) call the warrants giving the holders a period to do the conversion. Those that do not convert, they'll pay them much less than a buck. Zeev