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Gold/Mining/Energy : Harken Energy Corporation (HEC) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (3157)	7/8/1998 9:41:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 5504

Thomas, I think everyone should read the Hayes story. It is very typical, the CEO and CFO assumed that the stock will go up, but the weight of shorting brought it to its knees. The story is repeated with all floorless I have seen. By the way, both AIPN and RNTK have covenant that prohibit any arbitrage related transactions (shorting against the block) with the floorless securities. Yet both are down sharply from the time these were issued. Somehow, the floorless find ways around this covenant (through off shore accounts and shaddy brokerage houses). In the case of AIPN, it is the Hunts that are carrying the floorless flag. Zeev Zeev

To: Thomas M. who wrote (3157)	7/8/1998 9:53:00 AM
From: Timelord	Read Replies (1) \| Respond to of 5504

Thomas: Great Find! It just supports our warning that 1> These guys are not nice. 2> Perfectly honest and intelligent businessmen are being taken in by their dishonesty 3> The shorting strategy as described does take place. As I said before I really, really liked HEC's story - being at the forefront of this type of discovery is my favorite type of investment and I don't mind the risk. Jeez, I own LOILY, RDSEF, AKSEF, SEV and ABACAN. I'm not only risk averse but stupid as well <g>! We have a red flag here, however, and it's up to you to decide what your comfort level is with your investment dollars. Alex