Vivek's Intraday Picks Message Board

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Strategies & Market Trends : Vivek's Intraday Picks

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To: DanZ who wrote (27)	11/14/1996 2:33:00 PM
From: DanZ	of 323

*** UPDATE ON VCAI *** The news this morning was that Paine Webber, Merrill, and Dean Witter all downgraded the stock to neutral from buy, although Merrill maintains its long term buy. It never ceases to amaze me that these houses downgrade stocks when they are down 50% in two days. But rest assured that with 13.5 million shares traded already today, they are in there buying. There's no way in hell small investors are creating that kind of volume and if the institutions were still selling the stock would be at 5. The positive news this afternoon 1:09pm ET, is that the company institued a share repurchase plan ($10 million worth). Here's a quote from the press release: Bob Antin, chief executive officer of VCA, said, "the board made this decision based on the price at which the Company's common stock has recently traded. " Based on this new development, I would immediately take a full position in this stock. It may still break the low today, but the odds are diminishing. Once more people hear the news of the share repurchase, I expect this stock to rally hard and fast. Dan PS: I bought 1100 shares at 8 1/2.

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