To: bdog who wrote (285 ) 9/28/1999 1:55:00 PM From: ivan solotaroff Read Replies (1) | Respond to of 1065
ZONA/PETM B-- Forgive the hysterical number of posts. Large losses have a way of bringing out the extrovert in me. Went in a puddle of tears to my broker downstairs and he let me look in on Level 3 for PETM. DLJ (Donaldson LetskillIvan, and Generouswithmymoney) has been selling off enormico blocks of PETM for three days now. I don't believe it's a position of their own (brokerages usually clear through other specialized houses), so the chances are good that one of the larger institutional holders are getting out. This sweet, sweet little pussycat (honey/vinegar/flies) has a float of only 98.5m; DLJ's client has already dumped over 700K today, and my broker, whose attention to the stock was piqued by my panicked phone calls, says DLJ sold a similar amount the previous two days. I think this is good news: A) It's not someone naked-shorting up in Canada with a vowel at the end of his name; and B) I doubt that the 25-year-old counterfeit-Cohiba-smoking Wharton snot-nosed little poof of a fund manager that's panicking on the PETM trigger button bought more than 2 percent of this company, no matter how many pet poodles he engages in sexual acts with on a nightly basis. I.e., once he gets through selling and goes off to crash his twin-engine turbo-prob plane into some Massachusetts coastal bluff, this stock will be free to rise to its true level of, say, about $5 or $6 dollars. Then I, rather than he, will be rich, and will go up the coast and have my very, very dominating way with that man's widow. ZONA's put in the low, the volume, and if can just get its little FU(#ING FACE OUT OF THE HEADLIGHTS and move more than two ticks off the low, today will be a nice little signal, and I'll be able to keep my losses in this salamander to triple digits. Ivan