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Strategies & Market Trends : The Thread II
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To: stan s. who started this subject6/6/2001 10:52:28 AM
From: Dave Gore  Read Replies (1) of 9026
 
MFNX Alert - low-priced stock moving today even as futures and Marker are weaker. Check the news and DD. Could be a good one longer term. Excellent money flow today.

FYI - (COMTEX) A: MFNX Inks Supplier Deal with Deutsche Telekom A: MFNX Inks Supplier Deal with Deutsche Telekom
Boston, Jun 06, 2001 (Midnight Trader via COMTEX) -- Metromedia Fiber Network

(MFNX) is up sharply this morning on 12,100 Instinet shares after announcing a
deal to supply Deutsche Telekom (DT) with optical infrastructure, as well as
operations, administration and maintenance services. The 20-year lease agreement
will enable DT to expand its worldwide network platform connecting major cities
in Europe, North America and Asia. MFNX will connect DT's backbone from New York
to Washington, D.C. and throughout the regions' metro areas. DT is flat at 21 on
light Instinet volume.

Price: 5.40, Change: +0.75, Percent Change: +16.1%

[My notes - positive money flow day. Will this news ignite shares over the next few days and weeks (maybe months?) or is this just a mo-mo play? Stock was $44 in the last year and this may help it turn the corner. Agreement of 20 years may give investors some feelings of stability in their business. I will be watching whether the first dip at $6 or wherever is shallow and bought up - that will tell me some things. My gut tells me this is a pretty good and relatively safe bet (even in the short term), especially since the stock does not seem to have wild moves. Good luck all]
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