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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (18142)	6/16/2001 12:00:01 PM
From: Steve Lee	of 30051

Nortel (NT) If Nortel's book value at the end of last Q was $29.2B and they are making a $19.2B loss this quarter, how far away is CH11? I am assuming that the $19.2B loss just preannounced includes the charges for laying off the 30,000 employees so next Q's loss may not be as large - but I don't see how they can turn this around before reaching negative book value. Also consider that the book value calculated end of last Q was likely to be pricing certain assets at values higher than they would fetch today. New low yesterday but the stock managed to recover about half its loss. If that low is breached yet again, I will be likely to short NT. Or will the gap created yesterday ever be closed?

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