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

To: iceburg who wrote (17822)	8/26/1998 11:56:00 PM
From: George Dawson	Read Replies (3) \| Respond to of 29386

"Remember the good old days when the thread complained about the short interest going up 50K?" Steve, Those were the days... A few thoughts on the current situation. If you take the volume above average (about 140K) times the time where things really went south (about 40 business days) I come up with 6M shares or almost the number you calculated for the dilution. That would also explain some of the movement of large blocks like the 90K block today. Regarding the large jump in the short position - this is confusing. I thought that according to a Nasdaq rule (UPC-71) there were no more shares to short. Maybe this increases with the dilution, but it wouldn't seem proportional. Clearly the people with the really big money are doing things here that we are unaware of. One theory that I have suggested here is the possible conversion which should be easy to research. If that isn't it a worse scenario is that one of the big holders is selling at a huge loss. I don't think Ancor without a story is attractive to day traders. But then again at a buck and a quarter I wouldn't think it would be attractive to shorts - even if you knew it was guaranteed that they would go out of business. George