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Technology Stocks : Loral Space & Communications

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To: Valueman who wrote (2189)	3/11/1998 6:49:00 PM
From: ccryder	of 10852

IMO, Readware's pricing model is by necessity based on efficient market models. There is I suspect a time component and an event component in the price vs time result. Enter the dynamics of the marketplace, I think todays prices of GSTRF and LOR are slightly higher than the model predicts. The model probably calculated LOR profits to go positive in the 3rd or 4th quarter. The market response to the positive earnings was probably not modeled. My conclusions: Maybe LOR and GSTRF are slightly overbought using efficient market theory (so downgrade from buy to outperform) but where else can you find a better investment? It will be very interesting to see the 2001 LEAPS price. I suspect the recent POP will be adequately incorporated. :(

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