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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (491)	6/26/1999 12:37:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 1438

Zeev, I agree with your perception that Castle Creek has probably been providing the support for VLNC above the $6 ceiling, and then re-shorting when the stock gets above $8. But the steadily increasing short position (another 450,000 shares in the last two months) may be telegraphing their intent to withdraw this support. If they thought a material order was imminent, I don't see why it would be in their interest to increase their short position.

To: Zeev Hed who wrote (491)	6/26/1999 12:39:00 PM
From: John Liu	Read Replies (1) \| Respond to of 1438

Perferred Stock/Debenture Above $5 TMSR currently 23 1/16 UOLP currently 7 7/16 Currently these two are the only ones I know of that sign up for Perferred Stock/Debenture and who is above $5 anyone else know of any others? Sincerely, John

To: Zeev Hed who wrote (491)	6/26/1999 3:10:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 1438

I think, it does good to point out the sad situation of ENML. ENML is one of the worst performing stocks in this season, heavy selling led the stock down to 1+ after it traded as high as 10 in December and 9 in January, shortly before they went to the well for some $5M mid-January. These $5M was only a small fraction of the market capitalization at then prevailing stock price and an indication how damaging such an issue can be. Then ENML chart is a muster of what is characterized by ongoing heavy selling pressure since the closing mid-January. That does not necessarily mean that UOLP shares the same fate, but shows the dangers of junk equity placement. is.con