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Technology Stocks : PCTH Anyone think this can take off in 1998?!! -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (1111)	2/3/1998 12:46:00 AM
From: Raymond Hill	Respond to of 1509

The warrants are not followed by very many investors, especially when the stock is not moving up. It seems to me that the people who had been in line to buy the warrants had done their buying at 1 3/8 and above earlier in the day. In the last hour, someone apparently did dump about 12,000 at the market, which caused the big drop in the price, as the market maker just let the price drop (and possibly some were bought by the market makers at the low price). If anyone is optimistic that the stock will rise to the exercise price of $9 3/8 before they expire (in 2001) this is a great buying opportunity. My calculation shows that from the current price, the warrants would rise about 2.47 times the common if the stock went to the exercise price. Very likely the warrants will rise up to a more appropriate ratio in the near future.