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Strategies & Market Trends : Crash and Burn 2001
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To: Brad Davies who wrote (143)9/8/2001 9:42:14 PM
From: Dale Baker   of 207
 
CHL - more of a position play, they are trading at a very high price-cash flow multiple. I started shorting at 16, I figure they should trade around 10.

I also don't trust virtually any deal related to China, so I add a discount to fair value based on corruption, bureaucracy, etc.

Finally, CHL looks like the kind of stock the US funds will dump before their Sept. 30 quarterly reports and the October 31 tax deadline.

I may cash my NLI puts soon to get margin for bottom-fishing longs. Depends if NLI tries to pop on Monday.
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