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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?


To: BDR who wrote (18280)7/10/1999 12:46:00 AM
From: Druss  Read Replies (1) | Respond to of 18691
 
Dale--In the floorless convertibles I have seen the holders don't play for a mere dollar or two.
They tear the company apart. Check PNDA or ZITL among others. The classic assumption I have seen is that the holders will short for the amount of the convertible. I don't know why they would. I would short every share I could get. As the holders start converting, diluting the stock, and hammering the price down, a massive short is all the better. Since the company has delivered control of the share price into the holders hands, why not?
All the Best
Druss