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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: cardcounter who started this subject8/2/2001 10:38:27 AM
From: dogemup  Read Replies (2) of 15615
 
GX-Long Term
The sentiment about this sector is pathetic. It is depressing for me to look at my now less substantial holdings-GX cost of about $11 and MFNX cost of about $2.60. But let's look at the situation. Does GX survive? Will spending on telecom services pickup? Will the big enterprises move to IP services? If you think the answer is yes, this is a great level to buy. People might be right when they say the institutions are throwing in the towel, and downgrades have hit. Maybe GX drifts south for the next six months. But the stock is moving up to $6 from the mid 5's just a few minutes ago. Insider selling was at $12, the stock is now half of that. If the economy turns and enterprise spending picks up, how will people view GX in six months. What will be the price at that point? Buying when there is "blood in the streets" is extreme high risk. You could maybe lose it all. I for one bought yesterday in the high 6's and will continue to hold my substantial postion. I think this company will be in great shape 2-3 years from now. They have a great system that spans the oceans, and the undersea buildout is grinding to a halt. The consolidation is obviously continuing, and I think GX will survive and then thrive. Obvious disc. Significantly long GX
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