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

To: Eleder2020 who wrote (19159)	11/6/1998 6:35:00 PM
From: Craig Stevenson	Read Replies (1) \| Respond to of 29386

Ed, It looks as if the most likely (and safest) scenario is that some of the Reg D holders shorted as much ANCR as they could on any rallies, probably up to the number of shares that they could convert. That way, they have virtually zero risk. After they forced the price down and locked in their conversion price, they had the option of going long at that level. There doesn't seem to be any way of telling what their current positions are, with the possible exception of TailWind. (Based on the conference call, I suspect that they are long somewhere in the neighborhood of 5% of the total shares.) The lack of any real sustained selling yesterday and today seems to indicate that they are content with their current conversion price. (Or that they are saving their ammunition for some other time. <g>) Craig