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Technology Stocks : TLAB info? -- Ignore unavailable to you. Want to Upgrade?

To: Wowzer who wrote (3800)	9/15/1998 8:27:00 AM
From: Helios	Respond to of 7342

You're right and there was a pop at the open. Then came the bad news. The arb.s couldn't catch a break on this one, not that anyone cares.

To: Wowzer who wrote (3800)	9/15/1998 8:43:00 AM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 7342

Rory, If this were the case wouldn't we have seen a big pop instead? The arbs were short TLAB and long CIEN That's in part why I'm long. The thing popped in a total short panic in the first half hour. I don't think all the short positions are unwound. It was in the best interest of many to spin the call as a "warning" to the press (the call was not available to the press until noon Chicago time). The arbs are here because of the deal. The deal is gone. Some of the positions remain. There may be some ridiculously complex hedges going on, but after the smoke clears (re: digesting the guidance and getting through expiration week), I think the bias is towards shorts wanting out. For me this is one of those "see who's walked into an ambush and fight on the side of the attackers" type of trades. It may not work, but that's how I'm sizing it up. Good trading, Tom