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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (12172)	10/30/1997 4:53:00 PM
From: John Kratus	Read Replies (3) \| Respond to of 18263

Art Chiat: the y2k market is late, blames Gardner Group estimates for slow market, limited sense of urgency out there, less than 30% of firms have begun ANY y2k activity (A LIE!)

To: Arthur Radley who wrote (12172)	10/30/1997 4:53:00 PM
From: Robert Lawkins	Read Replies (1) \| Respond to of 18263

"The market is late......that is the problem. Limited sense of urgency for Y2K." What a bunch of crap! Does anyone have any handcuffs out there?

To: Arthur Radley who wrote (12172)	10/30/1997 5:10:00 PM
From: Russian Bear	Read Replies (1) \| Respond to of 18263

TD, I have long speculated that the Cayman folks would short the heck out Zitel, while using their convertible deb.'s as a hedge. The lower ZITL goes, the more they can short, and the more shares they can convert. This scenario did not appear to be playing out when short interest declined for Oct. But, now I am beginning to think it was correct, all along. Perhaps the short interest decline occured despite the continued shorting of the Caymaners, not as result of their covering their hedge!? Just some speculation... RB (shorter and happier)