Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Captain Jack who wrote (6175)	5/19/2000 7:22:00 PM
From: jesso	Read Replies (1) of 15615

>jesso -- the NAS is down 4% and gblx down 12% TODAY! Day to day prices aren't important to "longs" -- only day or perhaps swingtraders. If you compare GBLX to the Nasdaq it's not much worse off between March 27th and now. The Nasdaq is down about 33%, GBLX down about 39%. No big deal. GBLX still has a "telephone company" stigma dragging it down with the other telecoms, some of which are down even more than GBLX is. Anyone who has done an hour of DD on GBLX knows that it isn't a telephone company and the ILEC will be sold by summer most likely. >It is valued at what the mkt will pay. Thats what it is >worth,, WS is no longer pricing in profits years away in >any company that is losing money. It won't be much longer before GBLX is VERY profitable, and to a true "long" 2-3 years is the short term. I can wait. >Just the way it is,, now it is time to decide if it is >worth holding past the next spike (if there is one) or >holding until the earnings give it a decent shot. I guess that depends on what your time frame is on your GBLX investment. I didn't buy anywhere near the high, and I'm holding till it's at least a 5-bagger for me. >It takes work to drop over half of the years high,,, Surely you realize that the majority of the recent drop has been due to general market conditions?

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