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Non-Tech : Simula (SMU) -- Ignore unavailable to you. Want to Upgrade?

To: wally who wrote (773)	11/13/1997 4:41:00 PM
From: Noblesse Oblige	Read Replies (2) \| Respond to of 1671

Hi Wally, Yes, I noted the late day rally as well. However, the most interesting part of it was that the bonds led the common stock, moving up from approximately 110 to 115 before the bids showed up in the common. . Although a portion of the move might be attributed to arbitrage between the two securities, I am hoping that a portion of the strenght was in anticipation of tomorrow's conference call. In the past, SMU has occasionally offset "bad news" (the third quarter loss) with "good news." (one can only guess!) . I think the stock has already discounted the quarterly loss, though there is some chance that minor retail selling might take place following the publication of the actual number. What will be most interesting tomorrow is the tenor of the conference call, and whether Simula: . 1) has anything unexpected to announce, or . 2) responds to ITS related questions with answers that indicate management believes it is relatively close to additional contract signings. We will certainly know the answer by 11:00 AM NY time tomorrow. Have a good evening.