Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who wrote (5204)	8/14/2001 12:53:19 PM
From: Steve Fancy	Read Replies (1) of 6873

Michail, do you still like LWIN short...any thoughts on this? Thanks! Steve ======================== Money manager Gabelli acquires Leap Wireless stake Reuters, 08/13/2001 16:17 WASHINGTON, Aug 13 (Reuters) - New York money manager Mario Gabelli has acquired a 5.7 percent stake in wireless telephone services firm Leap Wireless Inc. (NASDAQ:LWIN) for investment purposes, according to a regulatory filing on Monday. Gabelli and affiliates hold a total of 1.9 million common shares, he reported in a filing with the Securities and Exchange Commission. The most recent transactions include 36,000 shares purchased on August 9 for between $18.95 and $19.62 apiece. Shares of Leap have fallen more than 48 percent since July 25 when the San Diego, California-based company disclosed in its second quarter earnings report that it needed $120 million in revenues in the fourth quarter to meet requirements under credit agreements with telecommunications equipment vendors. Those vendors included Lucent Technologies Inc. (NYSE:LU) and Nortel Networks Corp. (TSE:NT) (NYSE:NT). Leap shares closed down $2.72, or almost 14 percent, to $16.78 in afternoon trading on Nasdaq. The stock has underperformed the Standard & Poor's 500 Index by about 26 percent since the beginning of the year. Copyright 2001, Reuters News Service

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