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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: FuzzFace who wrote (10291)	11/11/1997 4:36:00 PM
From: Peter Yang	Read Replies (1) \| Respond to of 12298

Deb holding shorters won't cover until they see a rock hard bottom. It's still too dangerous for them to cover at this moment. They would definitely cover if APM goes below 10. I think APM still has room to go lower in the near future.

To: FuzzFace who wrote (10291)	11/11/1997 5:01:00 PM
From: Jonathan Bird	Read Replies (1) \| Respond to of 12298

Edwin, Yes i think you are right about the shorting done at 30. But im also not sure that matters. <<Still, if they "let" the price drop to say 9, that makes the ability to buy APM at 18.5 worthless. It also means a viable tender offer could occur at say 15, which also would make the debs conversion option worthless. (wouldn't it be ???)>> It was my understaning that they get these shares no matter what the price is. Not an option to buy. They will recieve real stock. I this not the case? Obviously they wont be to excited about getting 9 dollar shares(or whatever) when the debs deal was priced at 18.5. But as long as they are short they needen't fear cause they will be protected from that. And if they risk trying to keep the price above 18.5(and it doesn't work) then they are double screwed. I think they would play it safe. I don't see these holders acting any diferent then you or I would. Short if you think it's going down and cover if you think its going back up. Jon Bird