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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: George Dawson who wrote (110)	10/9/1998 1:45:00 PM
From: Mama Bear	Respond to of 1438

"As an example, two years ago the company signed a deal with Sequent for about $20M (that was later cancelled) and the stock price shot up to $41/share." Believe me, I recall. Bought it at 24, sold it at 9. One of the things that taught me to take profits when they are there, and showed me how profitable it can be to short into ridiculous spikes like that. That trade was a loss, but I learned much that has helped me make profits. I'd suggest that you have an excellent candidate for tax loss selling here. Since it is in the grips of the death spiral, it is unlikely to rise in the next 31 days. There will also be a lot of other folks with the same idea soon, that will further cap the price. The sector is also out of favor. If you sell it now, you may even get it back for a lower price, and be able to get back part of your loss from Uncle Sam. This is assuming that you really want to hold onto it. I really don't see ANCR as a long unless they start to deliver what they claim they can. It is your call of course. Barb