WCOM Message Board - Msg: 17485490

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Technology Stocks : WCOM

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To: Paul Berggren who started this subject	5/18/2002 2:24:22 AM
From: BEEF JERKEY	of 11568

To buy or sell? I can't help but think WCOM is a real bargain here. No way it goes bankrupt for at least 2 - 3 years. A secured credit facility should be a slam dunk. They do appear to have plenty of equity especially considering most existing bonds are unsecured. The only shoe still waiting to drop is the SEC Investigation. What's the worse that could happen? "If" WCOM has to restate some earnings I would expect a gap down but I would also expect that to be bought with a vengeance as "all bad news finally out". In this crazy market it could also gap up if its just a matter of some tweaking of numbers. Further if the SEC simply closes its investigation WCOM could gap up double. Its amazing how many shares have now traded under $2. Its close to 2 billion or over 85% of float. I'm sure a lot of daytrading has gone on so that doesn't mean all shares are now in new hands but I still wonder what kind of overhang is left at higher prices? Almost all new owners of WCOM are not on margin either because of the low price. So my view is that it will be mostly good news over the next few weeks. New Credit Facility Possible cut in Dividend Possible announcement of further capex cut Maybe some other stuff It used to be the same with the riskier pulp and paper stocks. Cycle low and they drop to nothing, cycle picks up and some increase ten and twenty fold. I really like the risk reward here and methinks I will hold this position for some time. Curiously, WCOM was definitely risky @ $10 or even $5 (we know that now) but at these prices I honesty think that now there is virtually no risk - at least over the the next 12 -18 months. Low risk with tremendous upside possibility - Its just a great op. I just can't see why people would sell down here at these low prices. I'm just lovin this position I got now.

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