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To: Earlie who wrote (155403)	3/12/2002 7:51:40 PM
From: mishedlo	Read Replies (4) \| Respond to of 436258

CREE warns and is getting hammered. Is this all the bad news, or is there more? Check out this insanity. Some hedge fund shorted 75000 puts, strike 12 1/2 on CMVT. (I checked open interest and there are indeed those contracts sitting there). Down 3.25 to 12.85. I hope this POS sinks to $10 tomorrow. That hedge fund will be the proud owner of 7.5M shares of CMVT at a price of 12.5. I guess they were willing to buy nearly $94M worth of CMVT. Are they NUTS? CMVT will be fun to watch tomorrow. The MMs have a vested interest in forcing a buy in, but the Hedge fund will be a buyer tring to prevent that. If the hedge fund does this and loses they will have even more CMVT. I hope anyonoe stupid enough to short 75000 contracts loses their ass. M