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

To: Curlton Latts who wrote (14319)	2/6/1998 6:21:00 PM
From: Curlton Latts	Read Replies (1) \| Respond to of 25960

The convertible bond holders represent a portion of the potential outstanding shares and I believe were directly involved in a substantial amount of the shorting based upon a flawed trading strategy as recommended by Morgan Witter. I would bet that Morgan Witter and Monkey Sec trading desks had gotten themselves up to their eyeballs in short trouble last summer based upon all the sorely underestimated earnings estimates from Messrs. Deahna and Hodess. They suckered the convertible bond holders into believing they could short the stock big time with their convert feature hedge and thusly flim flamed the bond holders into providing them the means to cover their trading desks mistaken underwater short positions at a profit. They killed two birds with one stone by convincing CYMI that this was an easy way to get cheap financing. The bond holders are now sitting short a huge number of shares including the shares that Morgan and Monkey Sec used to be short that the bondholders are now sitting on hedged against their convert feature. Lo and behold now that Morgan Witter and Monkey Sec trading desks have extricated themselves from their short debacles Deahna begrudgingly comes out with an upgrade. As a tip of the hat to the snookered bond holders who are now caught in a squeeze Deahna comes out with a weak earnings estimate for this year. Bottom line - don't trust an investment banker further than you can see him at all times. Of course none of this has anything to do with the real story here which is that CYMI is gonna continue to generate phenomenal exponential earnings growth that will make the record books smoke. Good Luck To Each and All Curly ~~~~~~~^^ [6.6] .....> [_]