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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Ploni who wrote (1313)	10/22/1997 4:39:00 PM
From: TNH	Read Replies (1) \| Respond to of 2544

Charles, Nah, just got back from lunch ... I've been busy in the last hour selling other stuffs before I get a margin call ... I see your average cost is lower than mine 8 1/2 now ... don't think I can average down anymore since Waterhouse's margin limit is 4 1/8. I was too hasty to average down the last couple times ... couldn't pass up a "good" sale :) I'm going to stick with CTYS through earnings to see what comes out of it ... unless they file bankruptcy first :) I think there's a lot of panic selling and shorting going on. Hopefully, we'll get a good bounce after earning if not sooner. TNH ... praying

To: Ploni who wrote (1313)	10/22/1997 6:57:00 PM
From: Ploni	Read Replies (2) \| Respond to of 2544

Franklin Funds declined to comment on whether they have sold their position in CTYS. Does anyone have an interpretation of this? I can think of a few: a) They are in the middle of liquidating their position, and are afraid that the news could drive the price down even more. b) If they admit they're still holding, people will think they are idiots, like me and the other loooongs. c) If they admit that they sold for a huge loss, people will still think they are idiots. d) They've been buying, and don't want to announce it yet, because they want to keep buying at a low price.