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To: smolejv@gmx.net who wrote (4116)9/25/1998 3:33:00 PM
From: MonsieurGonzo  Read Replies (2) | Respond to of 11051
 
DJ; RE:" timing "

>Good time to BUY them.<< on the ex-dividend day... Why? If the market is efficient you dont have much to arbitrage against. Except, if "all the short-term dividend players sell"...

...well, if you took the trouble to look at the charts, or followed all the details of the postings - the answer would be obvious. But to rewind, replay all this stuff: the idea was to buy the ersatz bonds on or after ex-dividend day drop in price and scalp them for 1/2 point, leaving the remainder "profit" as some odd-lot number of shares yielding ~8.5% APR, while principal is intact. Other tactics are possible. The point is, they are in a clear cyclical pattern with little or no apparent trend, thus tradeable phenomenon. whew.

-Steve