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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (8115)5/2/1998 2:06:00 PM
From: White Shoes   of 18691
 
Roger, your play is impressive and everyone should take note. BAILED WITH A LARGE LOSS from KTEL short. Well done. We haven't seen the last of KTEL, not by a longshot. It will be a great short but the obnoxious Louis Riley is of course right when he says that people keep thinking they can pick the top, but they cannot.

Note with KTEL it is an argument over valuation...and since it is now on the radar screen it's a debate over a high P/E....not a debate about no earnings and impending bankruptcy or anything like that. It is quite simply irrelevant now that it traded for $7 a couple weeks ago...although I think long term and technically speaking this might be a relevant fact and that a good target for when the dust settles might be $15. Who knows if this will occur 1 or 3 years from now however, kind of a long time to wait to prove a point.

I think I want to subscribe to the McNabb's newsletter, or daily thought processes, or something. They aren't dumb.
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