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

To: Carl Yee who wrote (1325)	6/30/1998 4:56:00 PM
From: Q.	Read Replies (1) \| Respond to of 2506

Carl, congrats on SRCM. I didn't join, because last week I cleared out most of my short positions. This was a play on what appears to be a recovery from the small cap correction. Investor sentiment was extremely bearish, which indicated a high probability of a recovery coming, and this seems to be materializing. One that I covered and wish that I hadn't is BASEA. It dipped to 2 1/16 today. This co. is going to be toast, because with a market cap headed to less than $20 M, they aren't going to be able to sell enough equity to support their cash burn. They might lose their nasdaq listing before then, too. Funny thing is that their huge disounted converts haven't been flipping at all, despite the registration being effective since Feb. The CEO was nice enough to return my call and explain this to me ... they are all still sitting there.