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To: Jeffrey S. Mitchell who wrote (9250)	11/4/1998 12:42:00 PM
From: Pierre Mondieu	Read Replies (2) \| Respond to of 10903

Jeff--once again, more speculative nonsense from you--Kernaghan SELLS SHORT BEFORE he converts, remember?????? He's not going to take any market risk in these deals, please. You post is full of baseless conjecture.

To: Jeffrey S. Mitchell who wrote (9250)	11/4/1998 5:02:00 PM
From: Alan Coccio	Read Replies (2) \| Respond to of 10903

Jeff, about the only thing I can conclude is that it's impossible to come to any conclusion. We must presume that the shorting could not be done in the precise quantity necessary to be covered by the conversion. Next to impossible. So either Kernaghan had an excess of shares to sell or was short X amount as of the conversion date. If an excess, he could be the one dumping the past couple of days. If he was over-shorted (new word), he'd have to buy in the market to even up his position. Was that part of the buying we saw that ran the price? Of course, part of the normal exercise done by these slugs is to buy a little after conversion to start the price running and then dump once investor confidence has been somewhat restored. This is my favorite choice for what we've seen. I assume he did not short his full allotment and the excess is now being sold. The scariest scenario is that everything has been evened up by now and the new selling is the start of yet another round of shorting for the next CD that will almost certainly take place. Woe to us if that's so. Alan P.S. I don't consider anything you've said to be "bashing" the stock. It is necessary to have a reality check during the discussion of any investment. The only thing I object to is outright lying about a company's stock but any and all opinions are welcome by me at least.