Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Kathleen capps who wrote (36395)	7/21/1998 12:04:00 PM
From: Kathleen capps	Read Replies (1) \| Respond to of 53903

>>>At Fidelity, Andrew Kaplan has been taken off Fidelity Select Electronics, a fund he had managed for two years. He continues as manager of Fidelity Select Developing Communications, a post he has held since April. Matthew Grech, a semiconductor-equipment-company analyst, took Kaplan's place on June 1. The move, a Fidelity spokesman says, was just part of the "natural progression" of Fidelity analysts who move up to manage a portfolio. But fund watchers can't help noticing that Select Electronic's recent performance -- in May the fund lost 13.4 percent, while the average technology fund slipped 7.2 percent -- was in no small part due to the fact that Kaplan had 32 percent of the fund's assets in semiconductor stocks at a time when the sector was tumbling. The fund's largest holding, Micron Technology, has lost 24 percent since February. To make matters worse, Kaplan had predicted a turnaround in semi stocks in his annual report, dated February. Grech, who is managing his first fund, will have to stop the hemorrhaging at Select Electronics. The fund's assets dropped to $1.9 billion in mid-June, down from $2.3 billion at the end of April. From Smart Money 21 July -- for private use only.

To: Kathleen capps who wrote (36395)	7/21/1998 12:11:00 PM
From: IceShark	Read Replies (1) \| Respond to of 53903

Kat, I don't know the details of the forward sales by CIBC (so maybe I shouldn't comment) but I thought CIBC had already sold the shares, which was one of the reasons MU was pushed to 17 bucks way back when, and that this would just be delivery of them. In other words, the trading float was effectively increased way back when and this is a non-event. Covering a short, but doing so without buying shares in the free market so no upward buying pressure by covering the short. I suppose there could be some effect on people who were looking at short interest ratios and acting differently due to the distorted stats. Anyway, I think we can all agree this event would not put upward pressure on price. -g- Regards, DWW