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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Emile Vidrine who wrote (8373)	11/5/1997 7:02:00 PM
From: Jess Beltz	Read Replies (1) \| Respond to of 25960

Emile, your "facts" are the ones in error. In order for your suposition to be true, ALL of the shorting done by the bondholders would have to have been done when the shares were around 47 (post split) Two ugly little facts shoot your theory down in flames. (1) The stocks began the big slide when Cymer management pulled out of the Needham conference. Would you suggest that they were in on the conspiracy to hammer the share price - i don't think so. (2) The huge gap up in short interest is in the last month, in which case a large number of the short sells WERE made at prices considerably less than $47, and conversion-to-cover DOES represent huge losses to the short sellers. I think it is clear that there is a lot of uncertainty (justified or not) regarding this issue, and the Market wants strong verification (ala earnings numbers) before it reembraces this fallen angel. You guys are trying to fight the market here. I would bet a lot that no one on this thread has a higher percentage of their personal wealth invested in this issue than I do. When caught in a rip tide, the way of doom is to fight the water. the way of wisdom is to float on the surface and let the waves take you in. NYC - we would appreciate your broker's slant on this issue. jess

To: Emile Vidrine who wrote (8373)	11/5/1997 8:01:00 PM
From: Stanley L Brown	Respond to of 25960

Emile, I see where you are coming from, however let me state I highly doubt the bulk of the amassed short position was lucky enough to be in the price range you feel it is. But I could be wrong. :) Happy Trading Stan

To: Emile Vidrine who wrote (8373)	11/5/1997 8:22:00 PM
From: Elroy Jetson	Respond to of 25960

If I bought a bond offering a minimal interest rate and the chance to convert at a fixed price, say $47, I too would short the stock to protect my conversion interest. You could even keep it off the books by using options to effect a short position. The fact that the currently reported short interest now equals the number of shares the outstanding bonds convert to implies the downside pressure is over. The stock price over the past week reflects this.

To: Emile Vidrine who wrote (8373)	11/5/1997 10:38:00 PM
From: Mr. Aloha	Respond to of 25960

The notes may be converted for $47 per share...period. Because of the fixed price for conversion, there's no additional benefit for the note/bond holders to short. If someone just wanted out right now, they could have converted beginning today 11/5/97 and sold the shares to the market etc... Aloha