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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Greg Hull who wrote (18987)	10/30/1998 11:17:00 AM
From: Nam	Read Replies (2) \| Respond to of 29386

I think the focus should be on the companys potential to do some business. It does not seem particularly constructive disecting the converts and shorts. The company holds the keys to success not the holders of shares of preferreds.

To: Greg Hull who wrote (18987)	10/30/1998 11:20:00 AM
From: Craig Stevenson	Read Replies (2) \| Respond to of 29386

Greg, You and I are thinking along the same lines. IF (Big IF) there is no longer any incentive for whoever is working the short side of the game to force the price down, I think the lows have already been seen. On the other hand, if somebody with sufficient firepower wants to force the price down to lower the conversion price even further, then we could face some uncomfortable moments somewhere down the line. I will be curious to see the market action on November 2nd, when the Reg D guys get another 15%. (Do you know for sure what date that takes effect?) The only reasons I can think of for someone to work to depress the price is if they don't already own the maximum number of shares, or if they are short. If the short entity already used up his ammunition, ANCR should trade normally, as it has done recently. One thing I thought of is that maybe it would be possible to work backwards from the short interest numbers to find out who owns (through the conversion) enough shares to short that much. That alone might be enough to eliminate Tailwind. (I believed him yesterday, and I still do.) Craig

To: Greg Hull who wrote (18987)	10/30/1998 12:08:00 PM
From: w2j2	Respond to of 29386

(off topic)Greg, you said: "Maybe we just don't like sailors." FWIW, I race sailboats (and fly airplanes). A tailwind gives a boost of speed to an airplane, but a sailboat goes faster and would prefer the wind from the side ("beam reach"). <G> wj

To: Greg Hull who wrote (18987)	10/30/1998 12:49:00 PM
From: Craig Stevenson	Read Replies (1) \| Respond to of 29386

Greg, <<I'd also like to offer a topic that we can worry about for the next couple weeks, or until Ancor makes a new announcement. For the past few weeks, the Series C conversion price has been $1.16, and before that it was at $1.03 for a long time. As of 11/6/98 the price begins to ramp up until it hits $1.75 on 11/18/98. The only way for the conversion price to fall is for the stock price to fall. Does anyone have the motivation to work to depress the stock price?>> Are you just using a simple moving average to calculate their conversion price? How many days? I would say that if the stock trades normally, without the big overhead through those target dates, we should be in the clear. Craig