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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Michael G. Potter who wrote (8774)	11/4/1998 10:14:00 AM
From: Michael G. Potter	Read Replies (2) \| Respond to of 16960

Shorts must be pretty worried about the possibility that CL will make a takeover offer. If they make one for $20ish, the stock will leap up to that level. Instead of a slow, steady climb which gives them a chance to get out of their position, they'll lose a big chunk of their profits all at once. It also hurts people who sold covered calls. Obviously they'll make good money on some of the climb, but they'll be cut off from the rest of the gain about the call strike price. Michael