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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: White Shoes who wrote (9887)	6/11/1998 1:35:00 PM
From: Dale Baker	Respond to of 18691

For those who can't find ZITL shares to short, the July 5 puts (which I hold) are still selling at an amazing price of 1/4 x 7/16. If ZITL keeps falling 6% per day, I reckon these will be in the money by June expiration date next week. Just imagine how they will do in July (ZITL would cease to exist at this rate - though I'm not a math whiz who could calculate the geometrically decreasing percentages).

To: White Shoes who wrote (9887)	6/11/1998 1:41:00 PM
From: Marconi	Respond to of 18691

Hello White Shoes: "How many days of down 6% do we need before it hits $0.75 (real value if any)?" From 6-1/4--34 trading days at 6% down to reach 6 bits. With a step-down, maybe we could see such ZITL fireworks by the 4th of July! The paltry volumes of late coupled with now tasting sub-6 selling pressures could provide the step. There's a net of 12M shares to sell yet beyond the 5M already sold for the price decline. Best regards, m