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

To: john p. carney who wrote (10387)	11/17/1997 7:08:00 PM
From: Brian Lempel	Respond to of 12298

John, we will see shortly how many shorts have covered. New SI figures are out this week. I don't see any reason why debenture holderes would convert. Sorry to have raised the confusion last time I posted about it! Brian

To: john p. carney who wrote (10387)	11/17/1997 7:30:00 PM
From: Jonathan Bird	Read Replies (1) \| Respond to of 12298

<<Jon, I pretty much agree with all your comments about APM except one. APM isn't really that great a short candidate now because the amount of short interest already in the stock from the debenture holders seems like it's getting covered near the conversion price. I think if it wasn't for this huge amount of shorts slowly covering though, APM would be in single digits now.>> John, I agree about it not being a "great" or ideal short canidate cause Its already beaten down so much. It would have been much better to get a short in right below resistence at 21.But I am carrying a short from one of those RDRT/APM price divergence tricks I was telling you about. And I still think we haven't seen the bottom. And to tell you the truth I get enormous satisfaction from shorting APM and recovering some of my losses from the long side. However I will remember to remain nimble. Thanks for the words of caution. Jon Bird