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

To: Craig Stevenson who wrote (17989)	9/10/1998 7:17:00 PM
From: Nine_USA	Read Replies (1) \| Respond to of 29386

Craig, <<It also makes sense that they actually believe in the company's prospects going forward, or they certainly wouldn't want to own the maximum number of shares>> I don't think I agree with your logic here. If the Reg C people found themselves no longer believing in ANCR's prospects going forward, all the more reason for them to short as hard as they could in order to profit on the downside AND to bring down their average cost per share. To NOT short would have meant no profit to them as ANCR declined and to be converting at a HIGHER price than had they played ANCR short for big volume. In any case, their cost going in was fixed to about the $11.5 million and their interest going forward would best be served by ending up with the largest number ANCR shares.

To: Craig Stevenson who wrote (17989)	9/11/1998 12:54:00 AM
From: George Dawson	Read Replies (2) \| Respond to of 29386

Craig, One additional thought - if you assume that you really want to be long Ancor and you are hedged with both a short and long position and you know that there is a potential deal coming that would be enough to force you to cover - this is a potentially precarious position (depending of course on the price you shorted the stock at). Just covering will create some upward momentum. I would think you would definitely want to be covered before there were any significant announcements. George D.