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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Lord Smooth who wrote (12141)	7/30/1998 9:52:00 AM
From: Mama Bear	Read Replies (3) \| Respond to of 18691

schopenhauer, 7.6% of 22 million shares is 1.672 million shares. I shorted WCAP yesterday, and was glad to have the opportunity to close the position at a small profit this morning. There is too much uncertainty to maintain a short position in WCAP, IMO. The correct ratio is that WCAP owns .334 shares of COOL for each share of WCAP outstanding. If COOL opens at 30, WCAP would be worth 10 per share just on their ownership of COOL. After COOL starts trading, WCAP may be a good proxy to short the IPO, as they always seem to open higher than they'll trade in a week. Barb