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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (1105)	3/7/1998 10:21:00 AM
From: advinfo	Respond to of 18998

< The company completed a 6MM share secondary offering at over 3X book surprising some shorts who thought the deal might fail > The SIR chart was deteriorating technically and I was waiting for confirmation to establish a short position. These secondaries always seem to occur at high valuations, and I see them as a red flag. At least SFAM built an R & D facility with their secondary funds, SIR is loaning out their HEAVY DILUTION: "SIR intends to use net proceeds from the offering to provide funding for the origination of loans to small businesses" biz.yahoo.com