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

To: ChrisJP who wrote (167)	10/12/1998 7:09:00 PM
From: eric deaver	Respond to of 1438

<<What do you make of the HUGE (40000, 50000, 80000) share trades, which did not budge the bid/ask ? Funny how a relatively low volume this morning (200,000 shares) brought RNTK's price down 1/4 point, but an 80000 share trade did nothing. Maybe Zeev can tell us if he thinks the trades were conversions or shorting. The RNTK thread doesn't seem to care or notice. How odd. They are in warm water which is being raised 1 degree at a time so they won't notice when it is too hot for them to survive.>> I think you do not see much interest in this trading pattern on RNTK because they simply do not know what to make of it. Could be MM manipulation. Possibly somebody got caught with unconverted shares and wants to finish the conversion. But that would show up on the ask not the bid, right? So I am also at a loss except that it has been reported that final share count will be circa 41MM and that apparently a few still need to be converted (and then possibly used to cover an illegal short position - this I do not know). Most of the RNTK thread is looking past this time period and focusing on the fact that RNTK will not need to access the floorless in the foreseeable future. FWIW, Eric (enjoying the warm bath)