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

To: mthomas who wrote (3061)	11/4/1999 1:05:00 AM
From: mthomas	Read Replies (2) \| Respond to of 15615

I have been watching GBLX volume moves since the convertible announcement. Every day the stock price goes up until HUGE blocks of 100, 200, 500 thousand shares come and sit on the price. The price seems to fare rather well until another huge block comes on. I will have to guess on this one, but I would propose what is happening to be long common positions getting cashed out for long convertible positions. Seems like this would fit the data. Any comments? I expect to see the price continue to be weak, but nobody will shoot themselves in the foot by dumping too much too quick. Personally, I see this support by the big players as an advantage, current stock price is unimportant in the face of such potential. MT