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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (164900)5/9/2002 4:56:11 PM
From: Earlie   of 436258
 
Tip:

Yikes! (g)

It sure was interesting watching them try to drag IBM up over the psychologically important $80 mark at the end of the day. In the end, the "distributors" just hosed it back down, probably eating up gobs of IBM's precious "buy-back" dough in the process. I wonder what happens when this particular buy-back program comes to an abrupt end when the money runs out? I would suspect that IBM has reached the end of its borrowing rope, so that avenue is probably a dead end, and even if Louis had left some saleable assets around, there are precious few buyers left standing these days so scratch that possibility.

Without that buyback program, this stock is going to become very susceptible to gravity and it would not surprise me to see it start to suffer from "morning sickness" (i.e., gap down openings). IBM is fast becoming a "tarnished stock" and we all know what happens when that occurs.

Best, Earlie
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