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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (2888)	4/27/2000 10:36:00 PM
From: kumar	Read Replies (2) \| Respond to of 6516

re TVGIA/GMST arbitrage I dunno what to make of it.... my reasoning is: a month or 2 ago, AOL/TWX traded with very little arbitrage spread. some "analysts" speculated that "the lack of spread was too early in the process, so maybe someone else wants to hijack the deal"... lately, the spread has "relatively increased". not sure what to make of it in the GMST context : kinda complex equations for a simpleton like me, so i just bought GMST. cheers, kumar

To: Uncle Frank who wrote (2888)	4/29/2000 1:33:00 AM
From: dwayanu	Respond to of 6516

>> GMST / TVGIA has been trading at parity for the past four days (instead of TVGIA at a 5-15% discount) > That's a very significant observation, John. The arbitrage crowd wouldn't have let this happen without some sort of insight into the approval process. Worth noting, COMS/PALM suddenly started trading at near parity, starting near the NASDAQ bottom couple weeks ago. It may be an effect of the low prices in the arbitragers' eyes, e.g. Time to Buy! and they're buying both sides (or one side only until parity is reached, then both). - Dway