Here is a RB member's transcript of Don Wolanchuk's radio interview out of Chicago today in which WAVC is mentioned:
By: MazChgo
Reply To: None Friday, 16 Jun 2000 at 5:05 PM EDT
Post # of 35765
Don Wolanchuk Interview
Don Wolanchuk's interview on today's Stock Market Observer a local television stock show in Chicago that he speaks on every Friday at 2:15 CDT. ( DW= Don Wolanchuk
and LM= host Linda Marshall)
LM: Here we are with Don Wolanchuk, Wolanchuk Report.
DW: Linda how are you?
LM: Triple Witching Day and real uncertainty as to what we're going to see in terms of Fed rate hikes. How do you assess the market behavior?
DW: Oh the Fed doesn't have anything to do with..., look, interest rates have been falling for the past number of weeks. You know everyone is woried about the Fed.
LM: Yes.
DW: Has nothing to do with the stock market. How's the weather in Chicago?
LM: It stinks.
DW: You're right there on Lake Michigan. Is the water warm?
LM: I haven't been in yet.
DW: Well, I mean, you'd be a fool not to take your SEACAT out on a day like today.
LM: Ok, you do that. Ok Don, where do we stand on the market?
DW: Well, the stock market is held hostage this week to triple witching expiration and you see what's happening here. They're hammering the DOW. It's down almost 200 points. But you look at the cash, it's down equivalent about 110 DOW points. So, really, this is options related.
You know the stock that we've been talking about on this program a number of times, along with Valence, E-phone, and Voice Mobility, which are all great opportunities. This WaveRider continues to do the things necessary to make this a huge player in the world economy. And they got a foot in the door in China.
Now, people who have computers and who access the web would do themselves justice if they went to the Motley Fool Board. It's www.fool.com. And bring up the WaveRider Board Room. In there you'll find so much really great information about the fundamentals about this company. Unlike most chat rooms, this particular board room is really devoted to giving investors the kind of information they really need to make the right decisions. So, I would really suggest that people go to that particular board.
LM: Ok. I know you really like that for a long time. It's about $8 right now. But what about the market in general?
DW: Well, the stock market is really climbing a wonderful wall of worry. We've got Market Vains and Consensus Inc. all showing less than 40% Bulls in the polling services that they are. And with everybody constantly worried about the stock market,the Fed, and everything else, you're just climbing a wonderful wall of worry. And as we indicated in a number of programs, Spring and Fall are the times of year to pick up most of the bargains. And of course what do they do, they hammer the Nasdaq into the Spring. And a lot of these stocks are screaming out of their holes. So, in that regard, stocks like Coca Cola, if you want to do blue chips, and Proctor & Gamble and stocks like Microsoft.
LM: Well, what about Microsoft?
DW: Microsoft got hammered all the way down to $60. We added to our position in that price range and now it's coming out of the hole rather handily. It's up about 20% already. So, these are all great opportunities and they show up in the Spring and Fall and this one's just no different.
LM: Hmm,hmm. Microsoft trading near $73 right now. Ok. people are saying we're going to get a summer rally, are we going to get a rate hike. What should they really be focusing on here?
DW: You focus on the stock that you hold. Basically, you don't worry too much about the volatility. It's option related and here we are, we've had really a boring market since exactly a year ago when all this began. We've gone straight sideways for a year. And in the mean time the weekly advance/decline line has corrected deeply, the Nasdaq has corrected deeply. In essence, since the low of 1987, we've finally gotten a very high level consolidation where we've worked off the majority of excesses with the DOW still about 10,000. And that's a rather incredible feat of presbydigitation.
LM: Alright good point Don. We thank you very much much and have a great weekend.
DW: You too.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
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