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Non-Tech : Action Performance....ACTN -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (152)	5/10/1999 8:08:00 AM
From: CMon	Respond to of 278

I would guess that about half of that short interest is related to the convertible. I get that by making the wild guess that about 60% of the postition is held by convert arbs, and then making the more educated guess that they're on about a 60% hedge.

To: Stoctrash who wrote (152)	5/10/1999 10:45:00 AM
From: CMon	Read Replies (1) \| Respond to of 278

And as for the Fidelity position: Without being specific to ACTN, I can say that as a short one element I love in a stock is a significant position held by Fidelity, Putnam or Mass FI, and a few other "mo lovers". Those Boston three are a tremendous tailwind to a short position when the momentum they love is broken. And when the information shorts have had in their possession (again, in general and not specific to ACTN) is finally made widely known, the carelessness of Fidelity's analysts translates into indiscriminate dumping by their traders. When I consider a short, I put a check in the "pro" column when I see a big holding at Fidelity.