Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 186.23

-0.4%

Jan 16 9:30 AM EST

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To: LTK007 who wrote (41487)	3/20/2001 10:33:20 PM
From: ajtj99	Read Replies (1) of 56537

Max, the chart may look bad, but at first glance, the fundamentals for APW don't make a great case for puts at this level after today's drop. They need cash, and I assume they can get that from the bank or slow down their payables. They also will have some retained earnings this quarter. They are trading near book value, and their P/E is conservatively at about 15X 2002 reduced earnings (if they warn). They could go to 14 or 13 maybe, but you've got the good play being in today. The downside from here is minimal. I think their stock price already reflects an expected warning after their earnings. That said, I'm seeing stocks like ISSI trading at insane levels, so if this stock is lopped together with some of the other equipment people, it may drop to 10.

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