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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (19944)	5/17/2000 8:16:00 PM
From: Sergio H	Read Replies (2) \| Respond to of 29382

Ditch, according to Yahoo, there is a sizable short position on CHK of about 5% of the float. On the preferred, conversion is still going on. From the recent 8k: <During the first four months of 2000, Chesapeake has enhanced its balance sheet by retiring 18.4% of its preferred stock. In these transactions, the company has exchanged 11.9 million shares of its common stock for $46.3 million of its preferred stock (845,000 shares at a face value of $50 per share plus accrued dividends). By retiring this preferred stock at a discount to face value, Chesapeake has increased common stockholders' value by $12.1 million, of which $10.4 million was included in this quarter's earnings available to common shareholders.> Please have a look at AE. Very strong play IMO. Another entry point on natural gas is coming up soon. Sergio