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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: Dave Mansfield who wrote (17463)	12/18/1998 5:54:00 PM
From: Captain Jack	Respond to of 18263

Not only up 1/2 but the vol was over 600K???

To: Dave Mansfield who wrote (17463)	12/21/1998 12:11:00 PM
From: Marconi	Respond to of 18263

Hello Mr. Mansfield: I was surprised by the 1/2 point pop. My guess is that the financial report would be Monday must have leaked. I had 150 Dec5p contracts earlier Friday and cleared some oddly at a 1/32 premium in the options market (usually the options MM's price to take 1/4 point of parity), and exercised a fair fraction of them. I feel a little badly that the receiving end had no chance at the open this Monday to benefit from the 1/2 point pop at the close Friday. I also not that only a minority of the outstanding well in the money put options traded on Friday, so there must have been a substantial amount of exercise of those contracts at the close Friday. Zitel is almost starting to behave like a rationally traded stock, but it has at least 2 points to go down yet before it is a reasonable approximation to where I think it should be trading (and should have been trading). Forget the baloney--I think cash per share is the proper price--that's two bits.... Best regards (and Merry Christmas), m