Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (9037)	6/18/2001 9:53:51 AM
From: Bucky Katt	Read Replies (1) of 13094

Fridays report by Nortel of a >$19 billion loss expected for the quarter is the biggest in history, except for one from GM years ago, but that was related to an accounting change, so the Nortel loss is king Imo. Is this the type of thing bull markets are made of? "The company set a total of about $16.7 billion of charges and write-downs, including a $12.3 billion write-down against intangible assets. That charge is required to slash the carrying value of most of Nortel's acquisitions made last year, such as Alteon WebSystems, Xros and Qtera, amid the peak of the Internet mania and the accompanying sky-high valuations of technology companies." (They bought high and got burned NT fast becoming a $5 rat stock.....;-) Can't wait to hear what ORCL has to say after the close....

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