Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Sir Francis Drake who wrote (9000)	11/14/2000 9:59:15 AM
From: Sir Francis Drake	Read Replies (2) of 15615

Unfortunately true. The real problem for GX, as I indicated a few days ago, was breaking below $20. Gaining 3-5 points a day, when the stock traded between $20-$25 was relatively easy. Now, here at 16-19, it is not. Now every point and quarter point has to be fought for. Plus the timing is unfortunate. We've got tax-loss season around the corner, and I suspect there will be quite a bit of selling pressure from individual holders. Only hope is that some far-seeing institutional money wants to get in here, while the going is good and the price is low. But maybe that is overestimating the long-term horizons of most MFs which live and die by quarterly results. We'll see. So far the reaction has not been ultra-impressive, but the day is young. Morgan

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