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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (1191)	10/13/1998 4:17:00 PM
From: Dave Shares	Read Replies (1) \| Respond to of 43080

TELC It was, as Tom Pope alluded to, a favorable arbitrage play, that lucked out. I have traded it before. Merger with WAXS called for .58625 shares WAX per share of TELC. At today's open, this would be $11 per WAXS share, with WAXS (a company that I like) trading at close to $14. Well lo and behold, I'm checking quotes, and it is HALTED. My heart is in my throat, and then I check the news and see that the merger deal has been changed to a guaranteed $12 per share offer. Just plain dumb luck on the news, but I think it was a sensible play based on the arbitrage aspect. Anyhow, WAXS can cancel the deal if WAXS stock goes below $12, so I happily sold at $10. 3 1/2 points for 3 hours is as good as I've ever done. AAPL Thanks for the advice Scott. I did not hold, the profit was too enticing. I'll sleep better tonight, and tomorrow, I'll either kick myself or pat myself on the back. At least I can say that for today, my focus was a lot better.