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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (165)5/22/1998 12:24:00 PM
From: Jack of All Trades  Read Replies (3) | Respond to of 4142
 
Gary,

Well the warrants are being used to short the common .

Are you saying that there will be a rush to cover using the MIDLW?



To: Ga Bard who wrote (165)5/22/1998 12:30:00 PM
From: Crossy  Read Replies (1) | Respond to of 4142
 
Gary,
ok when they buy warrants to short the common, they (MM) have in fact a risk-neutral position as long as: the common trades above $0.50+price of warrants

So this means in this way the MMs are essentially "converting" MIDLW to MIDL with some profit for themselves ??

If so then this game will end when nobody is willing to sell MIDLW to the MMs.. Wonder when that will be. Guess it will be when the daytraders have cleared their inventory of MILDW

CROSSY


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