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To: Jerry Miller who wrote (3177)	8/3/1998 9:35:00 AM
From: Strategy	Read Replies (1) \| Respond to of 10081

5 5/8 is also a Gann support level. If it breaks... also, just a follow up on the convertible issue. It seems to me that the long and short of it is that the true dilution will not be known until after the stock hits bottom. This doesn't change the business prospects for the company but it changes the fundamentals of the company significantly. Are we looking at a stock with 30mm shares 45? 60? The as in the Hayes deal, the institutional guys can pin their position in the options markets. If they plan on lifting the stock soon, they might start shorting puts soon. As I mentioned earlier, I don't think they have any downside risk. What they decide to do will dramatically affect the price of the stock, but whether they want to see it higher or lower today is anyones guess. What they will do for sure, is react to whatever happens.