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Technology Stocks : GBT - Global Light

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To: donjuan_demarco who wrote (173)	9/25/2000 1:25:56 PM
From: Sir Francis Drake	of 223

Allegedly the IPO is delayed in Mexican regulations etc. - which means it can take an indefinite period of time. Doesn't matter. GBT is worth far more than $140 mln or whatever the absurd market cap is at this point. The dumping may or may not be over. Certainly it isn't testing the 5 1/4 lows hit Thursday and Friday. I got back in prematurely at 5.5 - could have gotten it cheaper. My main problem is that I hate to sit in dead money - and GBT may be quite some time in the dead zone. I should have put more of my capital into CFLO (up another 18 points) and JNPR (up 10) - they've been on a tear for weeks now. The oldest lesson in the market - go with the trend - CFLO and JNPR were in an uptrend, GBT in a downtrend. However, I'm very fond of attempting to catch bottoms - kind of a sporting obsession. I have failed with GBT - since it looks like 5.26 (for a buy) would have been it, if 5.25 holds - almost a 1/4 cheaper than I got last (on a $5-$6 stock, a 1/4 point is quite a bit!). Regardless, I am very confident that come January, you'll see GBT substantially higher (barring a general market meltdown of huge proportions). The sector seems to have bottomed and you got GBLX and FTHL (which I bottom fished successfuly so far at 9 1/2) up today. Telecoms in Europe are up. I think that European trading is important to GBT, because so much of their NAV is tied up to European ventures, so it will be naturally somewhat affected by the action over there. You can beat the sector only so much before it rebounds. Trouble is that you may still see some tax-loss selling later in the year, and I'm afraid GBT will be high on the list, so it could keep the price under pressure - but I'm looking to January for clear skies for GBT. Morgan

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