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To: JWC who wrote (31296)6/15/1999 3:58:00 PM
From: Zeev Hed  Read Replies (1) | Respond to of 44908
 
JC, after such a decline, if indeed the PP's bandits were shorting against their block, they would often carry on partial covering to bring the price back (their buying of course creates a little momentum, thus the rise to $.77 from $.61) up, and then, they pick back were they left shorting into a rally they create. With the strength of their floorless convertible, they can actually control the price of the stock. Playing these fluctuations, however, can be dangerous to a by stander, since we never know at what point they restart their shorting.

Zeev