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

To: balu vishwanath who wrote (3804)	9/15/1998 9:35:00 AM
From: Thomas G. Busillo	Respond to of 7342

balu, I guess I'm trying to balance the two events yesterday and come up with what means more. Before yesterday, closes at 45 (although it looked like it had run a little on expectations that the deal was going to be canceled). Going forward, what's likely to predominate? Unwinding existing arb positions (which I think have a short bias, meaning upward pressure when they close them out) or concern over the reaction to the call (which I think was overdone). Once the aftershocks are done, I'm guessing on the former and I'm comfortable with the risk, but who knows? Good trading, Tom