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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: max power who wrote (14762)	10/23/1998 8:49:00 AM
From: RockyBalboa	Respond to of 18691

GMGC, sometimes yes for a few 1/16. I short it only above 6 1/4 or so. I covered it all just a bit beyond 5 as it ate up margin when going non marginable. In this market I waited too long, after the 6,5 blurp few days ago. Im not sure whether they meltdown soon. But when they do "equity lines" instead of classic toxic convertibles it will go a bit more difficult and hard to predict. Through the financial meltdown and subsequent recovering I had little time to look at smaller co's but now I will do and look for safe shorts. (There are some which regained marginability and value like WDRY 9-, BTIM 10,5 MCHM 7 ENML >5, ... but their prospects did not improve at all). I shorted CTEN at 15 yesterday as I have doubts over their merger but this is - a game with limited risks ($16 proposed acquisition price). WFR.: As to create value for veba and certain shareholders, they may sell the new stocks at a discount to the then prevailing market price, ie. depress the price now and let it ride later on to create additional book value gains for VEBA AG in the vicinity of their year-end. I remain cautious about WFR as they finally receive cash and may live some time on it. C.