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

To: Mama Bear who wrote (13371)	9/1/1998 2:02:00 PM
From: chester lee	Respond to of 18691

Barb, ALTIF run up is probably due to short covering by the convert holders who now has nothing to convert, as the convertibles were bought back by the company. Per Jon's research, ALTIF is probably going sub-$5, but not until the P&D, momo buying, and short covering is complete. Since the convertibles were bought back, my original reason for shorting ALTIF is gone, so I covered this morning at 5-5/8. chester

To: Mama Bear who wrote (13371)	9/1/1998 2:07:00 PM
From: virgil vancleave	Read Replies (1) \| Respond to of 18691

Just got home from work for the day. Looks like market is starting to fade now. Very typical of aa bear market. 2 hours to go and if it finishes down from here, it will have a hard time finding a bottom. I see the dow actually touched some support at around 7400 which I saw and posted about a few days ago. Now there is resistance at 8000 and it would appear to be pretty strong. I covered some shorts today though and may consider reentering. The market internals say we are still going down further. Covered tklc, sctr (again). still short pixr and have puts on lhsg. I am also considering a straddle on dell and puts or shorting intc. Oh and I am long term short nke. It will be interesting to see where the market takes us from here. My opinion is more to the downside but I am not very committed to that yet. Just seems the decliners keep leading the advancers. That is very bearish. good luck

To: Mama Bear who wrote (13371)	9/1/1998 2:22:00 PM
From: Peter V	Read Replies (1) \| Respond to of 18691

Rajiv has been short ALTIF for a long time. He says the buy-back of the convertible reduces pressure, but also indicates that ALTIF is full of it because ALTIF's original rationale for the convertible was to develop its products and mining property and now that money is gone. Probaby the original reason for the convertible was to get listed on Nasdaq. All that being said, anyone shorting it?