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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: Jim@Inland who wrote (4254)	11/20/1999 7:16:00 PM
From: RockyBalboa	Respond to of 19428

Well. To concretize my doubts here: They have a relatively new option plan about 10MM shares,that makes it a bit looking like SCUR in late 1998, early 1999. My take of the 10-Q and the short interest, as stated is that Apollo (which did a $82MM investment) has yet to hedge their market risk, and they will do it diligently. So to say, the insider sales we have seen yet are not that significant as they could be. How is the stock price stabilized? At the market open (and the best example was when it hit $19 1/4, a $3 gap some weeks ago), you have many many buys in which the MMs build a position into, and you see big churning while the price quickly evaporates to some level. Later, you will find block trades at a certain lower level which usually mark the end of a downdraft, coupled with light asks, ie stock is hard to buy. Amidst "bid hits" (sales?) you see price improvement, so the logic is in reverse, when compared to other stocks. From time to time you see selling interest on thomsons i-watch but very rare buy interest. But on Friday you had sell interest messages briefly after the opening when it hit $32. I also have no position as of now because I short into the overoptimistic pre market (the prices are usually at least as high as at the opening on "up" days.)

To: Jim@Inland who wrote (4254)	11/20/1999 7:26:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 19428

To add a note on your thought. It could mean a "private placement", but you had private placements in september when the stocks value was in a trough. They do an ordinary, underwritten 2nd placement at the market price (which can be under the recent averages). So they could do a 2nd placement which is almost fully hedged out. That reminds me on BTOB which did a secondary at $18.25, or $18, a decent amount under the previous $30 spikes but right at the then prevailing market price. However all that is just my guessing, and 80% of the hike is to attribute to the perceived value of "incubators" (CMGI, ICGE, WCAP) in the light of yet-to-come spinoffs.