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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (1379)	1/29/1999 1:37:00 PM
From: david james	Read Replies (1) \| Respond to of 52051

SW, IFCI certainly churning here. Can't imagine the price will stay here that much longer with that sort of volume. After MFNX moved from 5 to 50, a lot of us expected IFCI to follow, and many were losing their patience. Another one to watch closely in that sector is ABTE. The stock has 10.5 mill shares outstanding and the short interest just published shows 2.8 mill shares short. The reason for the heavy shorting were the floorless convertible debentures. And they have just announced that they are retiring those. This is a company attacked by Asensio so the news is full of his attacks, but Fidelity Select Telecommunications recently bought 1 mill shares (10%) according to Stocksmart, and Vangard just filed that they have added to their position. The potential for a short squeeze here is enormous. Stock is just over $10 and they are expected to earn over $1/share next year on impressive growth in both earnings and revenues (over $500 mill in revs expected). David