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

To: Craig Stevenson who wrote (19005)	10/30/1998 3:27:00 PM
From: Nine_USA	Read Replies (1) \| Respond to of 29386

I maintain a stock database of the 6500 stocks with 2 or more years of trading history. In this database, there were about 4200 stocks as of 5 months ago which traded at $5 or higher. Imagine my surprise to see that in this 4200 stock universe, in the last 5 months, two Fibre Channel stocks came in with the highest percent gain: Emulex gained 230% in the last 5 months Qlogic gained 161% in the last 5 months Tik mCap Price 5mn% 1mn% 1wk% 3day% 2day% 1day% Description EMLX 117* 19.00 230.4 132.0 43.4 11.8 0.3 4.1 EMULEX CORP COM NEW QLGC 781* 90.88 161.5 57.0 39.3 7.0 0.1 2.1 QLOGIC CORP COM XIRC 693* 30.25 95.2 45.4 23.5 9.0 3.4 1.8 XIRCOM INC COM BEI 1449* 34.94 75.8 70.4 0.9 0.0 0.0 0.0 BERG ELECTRS CORP CO MUEI 2003* 20.94 74.9 50.9 19.7 12.0 10.9 0.9 MICRON ELECTRONICS I

To: Craig Stevenson who wrote (19005)	10/30/1998 4:05:00 PM
From: Eleder2020	Read Replies (1) \| Respond to of 29386

>>On 11/5/98 each preferred share will convert into 8461 common shares. The maximum possible dilution is therefore another 5.92M shares. << Craig- Here's the bottom line, 5.92 million maximum to convert- 1)2 shares they need to cover. 2)Say they sell 2 million shares this month again. 3)leaves them 1.92 million shares to convert next month or short this month. 4)Either way at the maximum they have 3.92 million shares over 1 or 2 month period 5)If they do short and if Ancor stays at this price despite their shorting they start to take on risk as the maximum they with have is closer to 4.4 million shares of which 2 million shares is needed to cover their short and they convert another 2 million this month that leaves them with 400K shares to short this and some risk as 100% leveraged is not in their best interest. Either way they have at max 3.9 million new shares coming this way in chose your medicine 1)Convert and take it all (3.9 million shares) in the next two months. Last conversion is need to cover(box 2 million shares) their short position. 2)Convert and short and get most of it out this month and convert the small amount that is left over in the second month and cover their short in the third month. 3)My guess is that they will sell over the two month period with no risk. 4)Still talking about 3.9 million(maximum) shares that will get sold or shorted either in 30 or over a 60 day period. Caveat-They could always have those 2 million shares to cover already in the safe deposit box and just haven't technically covered.