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

To: Q. who wrote (1321)	6/30/1998 10:32:00 AM
From: CMason	Read Replies (1) \| Respond to of 2506

John -- I'm not directly involved in magnetic media, but I do think KMAG presents a fairly good analysis of the market in their SEC filings. You are right that this has many of the elements of a cyclical. While their balance sheet is pristine, the income statement and cash flow analysis are very poor. My guess is that 1998 will be a very trying year for them, which is why I'm short. I appreciate your comments. Regards, CMason

To: Q. who wrote (1321)	6/30/1998 10:46:00 AM
From: John Dally	Read Replies (1) \| Respond to of 2506

John et al, I tried to short ICOM through Schwab this AM. Unfortunately, no shares. Yesterday they filed an 8-K announcing $5 m in discount convertibles. This is after they did $ 5 m on May 8, 1998 and $ 10 m on Feb 9, 1998. Mkt Cap = $ 145 m; Rev = $ 5.5 m; Op Inc = <$ 5.3 m> for March Q 1998. I've also tried to short NWCM each of the last 5 days at Schwab, also with no luck. Anyone able to short these elsewhere? Thanks, John.