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Non-Tech : j.c.penney
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To: Yogizuna who wrote (70)10/11/2000 8:48:58 PM
From: Mark Adams  Read Replies (1) of 111
 
Didn't like to see the new low, but given the action in the overall market, I shouldn't be surprised. Tax loss selling may weigh on the stock, but with what we are seeing, people shouldn't have any trouble finding a stock to sell at a loss.

I still believe JCP has a solid future. I feel that I have a full position now and doubt I will go over weight unless things get really crazy.

Regarding the market in general, I'm a bit on edge these days as I am seeing stocks I felt too expensive come down to prices where I wouldn't mind getting in. On the edge of a buying panic.

I just don't know how much more on the downside we have to go. Used to be we would see serious rallies every other week, now it seems just a slow grind lower. Almost as if big money wants out, but wants to keep the exit hidden from the mutual fund holders and off the nightly news.

Lucent traded 100 million shares today. That number prompted me to look at how big their float is- thinking 100 million is quite a lot of stock. Their float is in the billions, and 100 million shares a drop in the bucket. Check out this article, regarding mutual funds having no place to hide contraryinvestor.com

re FGH- I'm still watching with a 1/3 position. NY Times says banks are getting more difficult to borrow from- to be expected but not what you want to hear when you own companies with heavy debt loads. And I own several companies that fit that description.
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