FDC : First Data Corp Message Board

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Technology Stocks : FDC : First Data Corp

FDC 31.69

0.0%

Aug 5 5:00 PM EST

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To: jc who wrote (61)	4/27/1997 7:13:00 PM
From: Uncle Mikey	of 323

I don't think the problem has much of anything to do with FDC. The problem is that the current market pschyology is just not interested to any great degree. Stocks with exceptional earnings and good prospects have been getting a one or two day bounce followed by a downturn. Stocks coming in as expected have been taking hits. And stocks coming in below expections (I have some EDS) are getting hammered. Given the current pschylogy I think there is more downside risk in FDC. I don't know how much. But it is a good company, with excellent prospects, in an exceptional industry, and my personal decision is to hold onto it, riding out the downturn, however long or short it may be. Do I think it will make a move up? Yes, I do. That's why I'll hold it. When will it move? My personal opinion, which is no more valuable or worthless than that of "professional soothsayers" is that we might have a market downturn over the next 6 months that is perhaps 10% more severe than the downturn we saw a few weeks ago. I could see a 5800 - 6000 DOW and 1050 - 1100 NASDAQ. If this comes about I think it is a safe bet that FDC will go lower. But I am not so sure of my 'guess' that I will sell any of my stocks. I think stocks will continue higher when the downturn, however long or short, is over. But I do wish I had not bought so early (FDC @ $38)! Mike

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