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Strategies & Market Trends : Z PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (2573)	3/1/1999 1:49:00 PM
From: DanZ	Read Replies (1) \| Respond to of 11568

VLSI. I don't have much confidence that VLSI will accept $17 from Philips so I'm moving a firm stop on our position up to 15 3/8. The real chart support is at 14 3/4 to 15 but I don't want our trade to turn into a loss and I don't think the stock should even trade to 15 3/8 if the deal is going through at 17. VLSI has yet to trade at 17 since Philips announced their offer and this is a cash offer that expires in a few days. The time value of money isn't relevant here and there are no stock ratios to calculate. The fact that VLSI is trading at 16 tells me that investors do not believe that the deal will go through. If investors thought a higher offer was forthcoming, you would expect the stock to be trading above 17 by now. I've been fooled before, but this doesn't look good. Dan