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

To: Patrick J. Saunders who wrote (695)	7/11/1999 3:16:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 1438

Patrick, if you are talking about CLVE, I doubt you can short it in the US. I you are able to short it, you should do it on a high volume (hype induced) pop, because such pops will happen, other wise, the bandits themselves cannot lay out additional shorts as profitably. Of course, they know ahead of you what is coming down the pike, so you are at a slight disadvantage. Zeev

To: Patrick J. Saunders who wrote (695)	7/11/1999 4:11:00 PM
From: Larry Brubaker	Respond to of 1438

Patrick, I would look at shorting UOLP at the same price you see the bandits doing the same thing. There were many big block sales in the $8s and upper to mid-$7s, then the selling dried up when it went lower. Remember, the ceiling on the floorless is $5.5, so the bandits want to guarantee themselves as big of a profit as possible by shorting as much above $5.5 as they can. I don't think the bandits had enough volume in that price range to complete their initial hedge, but the price is now creeping back to that range. I'd watch for the big blocks sales to come back out and act accordingly. All of the above is just an opinion.