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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Retired Eagle One who wrote (2334)10/6/1999 1:35:00 AM
From: gizelle otero  Read Replies (2) of 15615
 
Noteworthy comment from RB board:

REMEMBER, YOU READ IT HERE FIRST! THERE'S A REASON I'M THE ALPHA PENGUIN!:

By: AlphaPenguin
Reply To: 2588 by RWN Monday, 4 Oct 1999 at 2:31 AM EDT
Post #2659 of 2659


In response to a number of previous posts:

1. Shorts must cover at some point to realize a profit or cut losses, so ultimately this is bullish for the dedicated longs.

2. Institutions can accumulate by merely setting a limit and buying from those who were arbing prior to the merger or the many retail investors tired of waiting for the pop, or from other institutions in direct side transactions that won't appear on the board, thus not spiking the price. Common practice.

3. GBLX does present an attractive acquisition for others, notably Deutsche Telekom AG (noted in my earlier post #2537)and British Telecommunications PLC.

4. GBLX is already in the SPX (noted in my earlier post).

5. My bet is still $70/share by next April, barring takeover or major market meltdown. The company and execution of the business plan are simply too compelling for the stock price to remain in the doldrums. But this will be a "stealth stock" .. if you look at it every 30 minutes you'll be disappointed, but look at it a month from now and I believe it will be a far different story. If you want to keep it in your portfolio but are afraid of taking a hit, buy some short-term puts as a little cheap insurance. Chalk it up as the cost of doing business and get some sleep.

5. The other penguins are still in their igloos flapping their flippers .. will soon come out and squawk GBLX is a squawking great buy .. probably after it has already risen 10 points.

(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
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