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Technology Stocks : SEVL -- Ignore unavailable to you. Want to Upgrade?

To: Instock who wrote (491)	3/10/1999 8:13:00 AM
From: ted birnbaum	Respond to of 703

Scott, I knew about SEVL from way back when it made its last puffball hot air hype run. I came up on my radar when it was trying for 5. When it cleared 5 I took equal short and long positions based on my knowlege of a mountian of convertable debt that will be converted into stock and sold at the top. I covered 1/2 the position for a 1/4 point minutes later. The next day I established another lot short at 8 and boxed it. Then its a matter of managing the long positions and trying to dump them at the top. I did a poor job of this since i was at the dentist office during the peak to 10. Ultimatly I ended up with a position with an average price of around 9. I covered this position sub 7 Yesterday with a mind to re-short and near 8 or above, although i think SEVL will eventually trade down to sub 5 I dont usually hold shorts for longer periods of time when the risk of runaway is high as it is in SEVL. No way i would ever be long overnight on SEVL and a short held over 5 days is an invitation to be squeezed.