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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drakes353 who wrote (1089)	5/22/1998 12:41:00 AM
From: Richard James	Read Replies (1) \| Respond to of 2506

Thanks Drake: In theory I was right and he was wrong. ACtually though, I am also wrong as I used the wrong number for ADV, which is 551k. 551K x 5.1 gives me 2.8M, which divided by the 16.1M float is 17.3%. Am I correct in thinking that is a strong short position. TIA Richard James

To: drakes353 who wrote (1089)	5/28/1998 5:27:00 PM
From: Q.	Read Replies (1) \| Respond to of 2506

FONX, which was found by the search club after FONX filed an S-3 in mid-April, fell off a table today, hitting a low of 4. The co. is trying to develop speech recognition software. The S-3 was for offshore funds to sell common shares that increased in number as the stock price goes down, giving the deal the same effect as a discounted convertible, although it was constructed without the use of any convertibles. I would guess the selling started this month. The number of shares to be sold is equivalent to 30 days of volume, so this one could grind down for months if there isn't any product-related news to push the stock back up.