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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Jason Cogan who wrote (5536)	4/28/1998 9:53:00 AM
From: Steven Bowen	Respond to of 12468

Jason, you don't like the risk in WinStar but like the risk in that play? Sold naked calls, right? That's gutsy! You almost have to be out of your mind to sell naked calls on WinStar. Keep a close eye on it, you could lose your money in a hurry. Looks like you could become one of our favorite indicators. Up better than 1 this morning. First Boston starts CLEC's. Something's up with ARTT. I'd watch for AT&T to step up soon. Don't think they'd allow WinStar to get ARTT unless they're going to get WinStar. Be careful, sector could come back in favor in the blink of an eye.

To: Jason Cogan who wrote (5536)	4/28/1998 10:01:00 AM
From: Steven Bowen	Read Replies (2) \| Respond to of 12468

Jason, you sound like you're not new to this game. Would you give me your take on WinStar taking a 14.9% position in a competitor. As I understand, anyone taking a 15% position would need shareholder approval. So do you buy the 14.9% to force a vote for total takeover? Do you buy as large as you can as a platform for a hostile tender? Do you buy as large as you can to head off another anticipated offer? You've seen the game played, what do you think is next? Thanks, Steve