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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (2958)	10/29/1999 2:30:00 PM
From: Bimini	Read Replies (1) \| Respond to of 15615

Did some of you miss the $45 conversion price. Anyone who buys the bonds obviously believes that $45 will be a deal. No problem losing some daily profit here for a long term gain. Good luck all.

To: JDN who wrote (2958)	10/29/1999 4:50:00 PM
From: Ellen	Read Replies (1) \| Respond to of 15615

I agree. I'm certainly satisfied with $45.00 - for now. With their growth plans, I'll also look to get back in later. After the dust settles, so to speak.

To: JDN who wrote (2958)	10/30/1999 7:18:00 AM
From: PaperChase	Read Replies (2) \| Respond to of 15615

Well the $45 conversion price is good information to have for trading since everyone knows the legal trigger point. However it also psychologically sets the trading upside limit for this stock over the short-term of about 6 months. So the momentum traders are going to exit now. I bailed when the news crossed the wire. FWIW, there isn't strong motivation for the preferred shareholders to convert at $45 or even $55. They are in a better position of having a higher secured position by owning the preferred stock. They'll only want to convert to common when they want to cash out and when the conversion won't injure the share price dramatically, probably in 2 or 3 years.