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

To: makin_dough99 who wrote (1129)	5/27/1998 3:08:00 PM
From: Jeff Harrington	Read Replies (1) \| Respond to of 4142

It almost seems that if it weren't for the incredible games of the MM's and the constant naked shorting, a smalltime investor like me wouldn't have been able to accumulate as much P as I've got now... Pretty amazing. Thanks guys! Jeff Harrington

To: makin_dough99 who wrote (1129)	5/27/1998 9:17:00 PM
From: Charger	Read Replies (1) \| Respond to of 4142

Wait a minute.. That makes NO sense to me, selling the div P's?? IMHO - The MM's knocked the P down hard yesterday knowing that after the dividend there would be sellers of P dividend shares ($0 cost). Let's say the MM's (whoever) were to knock down the P to $18 after X-div date. To sell 1 P gets $18, net. To hang onto the P and sell it October 1999, or after (at TODAY's price!!) gets you 1 x 35 x $1.25 = $43.75, a diff of $25.75 per share, not a bad profit. Now who in their right minds thinks that the common is going to be worth $1.25 18 months from now? Let's say they don't drop the P price on X-div date to 18 and keep it at $23. Still a net diff of $20.75. If you have 500 or 1000 shares, that's pretty nice. And remember...there will be heavier taxes by selling a div P with a zero cost base (or whatever cost base the IRS allows) "tomorrow" than there will be by hanging onto to as a looooong. Imagine what the profits could be if the common is worth $2.50 next week or $5,10,$20,$75 (as King has suggested) by next year. Think!! Am I missing something? Charger