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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Joan Sherman who wrote (17278)	7/23/1998 9:05:00 AM
From: Mike Fredericks	Respond to of 29386

OT - weird dream I had last night Had this weird bugger of a dream last night whereby I had some weird ANCR preferred note that let me buy 200,000 shares of common. Only I had to do it on the open market. And when I put in my buy order for 200K shares, the stock price shot up to 18 1/2 (I got partial fills along the way). Then I realized that I didn't have the money to pay for these shares, so I'd better get rid of them. But while I was debating it the market closed, so I was stuck with all these shares that I had "bought" when I didn't have the money to buy them (I actually had to pay for them. I don't understand the rules of the preferred note I had). So I put in an order to sell the 200K shares at open on the next day. But I realized that this would demolish the price. While I was thinking about it (time passes quickly in dreams), the conference call came out, and next thing I knew the B/A on the RT quote system was 4 1/2 x 5. So there I was with 200K shares at a cost average somewhere around 16, bought completely with non-existent money, and the stock was now pretty much worthless. Fortunately, I then woke up. I'd actually debated going long a small number of shares yesterday in anticipation of a decent CC, but I'm glad I didn't after reading the messages posted here this morning. I lost enough on ANCR for one lifetime... -Mike