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Technology Stocks : Avant (AVNT) -- Ignore unavailable to you. Want to Upgrade?

To: Brad Davies who wrote (1836)	12/25/1997 4:28:00 PM
From: troy halle	Respond to of 3441

To: Brad Davies who wrote (1836)	12/25/1997 7:00:00 PM
From: vegetarian	Read Replies (3) \| Respond to of 3441

Ron, thanks for your perspective. What I am wondering is that assuming that the market has a future discounting mechanism and what the shorters see for the future of AVNT can be seen by those long as well, then why do we (or have we) not seen this reflected in the price after the injunction levied last week? Is there some hope on the horizon that the stock holders have because of which they are not selling?; that is, are the troubles ahead not as clear in terms of probablility of them happening? It could be attributed easily to just bull headedness of the stock holders who refuse to accept reality? 72.5% of the 26M shares of this company are held by the institutions, so are they seeing something that we are not seeing and holding them? I know that instituitions usually react late and will probably wait until the real bad news is out, on the other hand is the news not already bad enough or are the instituitions holding it are not of a good quality (Bill mentioned Amerindo, but what about the rest 18M shares with Instituitions?) Actually it seems that 113 instituitions are holding 18M shares so on an avg they are holding a small number (about 150K), that may be another reason for not seeing a lot of selling. Outwardly, shorting this seems to be a very great opportunity with small risk which does not happen often, could this perception be wrong (just being a devil's advocate)? Any thoughts?