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Non-Tech : POVT (Provant) Leader in performance improvement training
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To: John Ritter who wrote (17)5/24/2000 12:35:00 PM
From: Mad2   of 24
 
I don't know anything.
I was in POVT back in Sept on a technical buy when they dipped to the high 12's and Merrill's favorable outlook and bailed as they rose.
Message 11228944
Since then I have kept it on the watch list, but avoided it when they cleaned out some top managment (sign of a roll up gone bad).
I'm going to check and see what ML is saying about them now (assuming they haven't dropped coverage).
On the surface they appear oversold, however the market is turning cruel with the fed driving up rates and forcing a liquidity crunch among companies with weak balance sheets.
As a asside my business is manufacturing and the word comming out of capital goods manufacturers we sell (truck trailer manufacturing) is NOT GOOD. Higher rates are driving up leasing rates, in turn its causing backlogs to shrivel.
My view is companies that have been living on the edge and relying cheap financing and capital (eg thin or no profit) are going to be pushed over the edge.
Its amazing how quickly it has developed (two months). Just as the market became overbought, the pendlum is swinging the other way.
Anyway I need to bone up on POVT's financing (and analyst view) before rendering a decision on this on.
If history proves correct there is probably no hurry to buy as many stocks will likely become cheaper in the upcomming months.
Best Regards,
Mad2
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