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Non-Tech : BANK ONE
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To: Big Dog who wrote (330)2/21/2000 10:36:00 AM
From: Rob C.  Read Replies (1) of 466
 
Darrell,

I would think that value investors should be buyers here, but the falling knife syndrome stops them. The big boys will have to start buying first, then the public will join in after it reverses itself. Any positive money flow will take the stock back to 30. Friday's volume was higher than normal, but the price didn't suffer as much as it should have, I think that we may(maybe not!) see one more really bad day, then a recovery. I would think that touching 22 ot so should do it. Many people had stop losses that were triggered on Friday and the same will happen this week sometime. You gotta love the herd mentality. The institutions are loading up as the little guy gets squeezed.

Assuming that ONE doesn't change the dividend, a 6.90% yield is very enticing. Not to mention the fact that the stock is trading at 8 1/2 times next year's estimates. In comparision BAC is trading at 8 1/2 times next year's estimates while paying only 4.5% dividend.
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