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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (11059)	7/9/1999 2:00:00 PM
From: Andrew H	Respond to of 30916

>> you fail to notice most shorts believe that stocks will rise leading up to the ipo, and fall after the ipo. hence shorts will not be covering.<< Well, if your statement is true, then the way for the shorts to play it would be to cover now and then short after the IPO. >> even as idc rises towards the ipo, shorts will not cover, not until they discover the paradigm has changed to discount in the parent leading up to the ipo, and then a run up to bridge the gap between the discount and the price of the spinoff. << Perhaps we will have a new paradigm as you suggest--hard to say at this point but if we do, then it will all depend on how much the company owns after the IPO. With IDTC's 60% or so, it should be helpful. BTW, has anyone noticed sharp fluctuations in price above and below the bid/ask? There were recent trades for 22 3/4 and 21 1/2 while the bid/ask remained at 22 1/8 by 22 3/16.