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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (7334)	5/21/1999 9:08:00 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

Kendall, with everything in mind, I think that PTEK could make a fair position trade into that IPO coming next week. I expect a pullback at open as many MMs were forcing down the price to cover short positions. . . as well as screaming on the daytraders Irc. . .SELL PTEK. .NOT WORTH THE MONEY. . . no reasons or nothing. . .MMs really should one day look at the companies they buy and sell, so they don't make so many stupid mistakes. I think PTEK will rebound from about 15 or so all the way to 23-24 and with the IPO could see the other side of 30, IMO. Understand that there are LOTS of MMs with short positions and they could care less whether PTEK ever runs. . .and could fight it every step of the way. But looking around the net, it was hard to find regular folk [prior to yesterday's MM panic] that considered PTEK a short play. . . .every post I found had it pegged as a long. I like their investments and their stable history and mostly their recent oppression, compared to their historical trading record. Each time the WebMD / HLTH merger gets better defined PTEK stands to gain. . .each time another company releases news reiterating their position in these companies. . .PTEK has a chance of seeing some upward pressure. Each time the analysts and CNBC journalists try to place a value on PTEK, it gets a boost. Again, more risk than if shorts were gone. Once they DO leave. . it should be allowed to run pretty free, since this is primarily MM shorting and NOT an organized group of shorts that stay with it. . .by contrast MMs really don't care. Rande Is