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

To: Volsi Mimir who wrote (10339)	11/22/1997 5:31:00 PM
From: FJB	Read Replies (1) \| Respond to of 25960

Fleckenstein is pea-brained twit! (EOM)

To: Volsi Mimir who wrote (10339)	11/24/1997 12:54:00 PM
From: Mr. Aloha	Respond to of 25960

When they bought the debentures ($172 million @5.5% convertibe @$47)... The stock looked strong and it gave them the opportunity to own 3.5+ million shares with interest and I believe priority over shareholders if the company went under. To buy 3.5+ million shares on the market would have been costly because no one was really selling. Then, the stock fell etc.. No one saw this coming. I don't think anyone would have shorted the stock just because they couldn't buy the offering. The price could have gone to $55+ before anyone would have even considered any conversion pressure beginning this month. Did the debentures short the stock to protect their long conversion price? I don't think so. The short figures were pretty small, with this last report for Oct being the biggest at 3 million+. Could they have shorted and then covered before a short report? I don't know if that's possible - it might? I don't give much concern to the current short position and I think the Nov. figures will be significantly less than Oct. I don't think the majority participated in the fall from $45, probably more like $35..$30 with partial covering around $18-19 recently. We'll see. Aloha