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To: Dr. David Gleitman who wrote (68538)	10/1/1998 11:01:00 AM
From: divvie	Read Replies (1) \| Respond to of 176387

Looks like the crapper scenario. At least I got my price for the Oct 65 calls!

To: Dr. David Gleitman who wrote (68538)	10/1/1998 11:30:00 AM
From: SecularBull	Read Replies (3) \| Respond to of 176387

Bought 1000 shares at $60.5 and 50 November 60 calls at the same time. GO DELL, GO! LoD

To: Dr. David Gleitman who wrote (68538)	10/1/1998 2:22:00 PM
From: Chuzzlewit	Respond to of 176387

David, hedge funds are private investment vehicles for very large players. They are not regulated by the SEC. Basically, they set up arbitrage positions seeking to eke out tiny gains from small market differentials. For example, they will typically short an acquiring firm and go long on the acquired firm hoping that the merger goes through and the differential disappears. Here's how it works: suppose that company A proposes to merge with company B through an exchange of stock, with the ration of 1.5 share of company A's stock issued for each share of company B' stock. So the hedge fund will go long 2 shares of B and go short 3 shares of A. TTFN, CTC Rumor has it that LTC had a major position in the TLAB/CIEN merger position, but when that went south they took a major drubbing.