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Technology Stocks : PCCLF- Pacific Century Group
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To: nihil who wrote (2)1/16/2000 2:18:00 PM
From: Hawkmoon  Read Replies (1) of 11
 
Thanks all!!

Before I started the topic, I did a couple of searches here on SI wondering if someone else had started a thread on them. I couldn't (for some reason) find one so I started this discussion.

But then all of a sudden, I was able to find this link to a PCCLF thread:

Subject 32017

So in the interest of not being redundant, I'll be posting on that one from now on.

One note about PCCLF.. From the reading I've been doing, I'm not at all comfortable with the stock. The spreads are far too wide for a company with 4 Billion+ shares outstanding (one billion less than MSFT) and not a financial filing to be seen.

I became interested in the stock because Merrill-Lynch was pushing it and a friend of mine had bought in at $2.05. He had been told that Merrill felt the stock had legs to at least $5-10, and eventually $20 by summer.

However, none of their research reports indicated a $20/share stock price (US$), and it is currently trading at $16.75/HK ($7.7HK= $1US). The most room this stock has is up to $3/share US, IMO and then it will correct substantially.

There are rumours floating around that the Chinese Securities and Exchange authorities are (have?) launched an inquiry into stock manipulation surrounding the stock.

If true, it could get ugly and the risk/reward ratio is not justifiable at this price.

Right now, I'm more interested in CORL which looks to have bottomed and ready to move back up.

Also, look at MGIC. Found it at $60/share last week and they are looking to go higher.

Regards,

Ron
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