Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (11259)	11/24/2001 1:49:39 PM
From: petekoby	Read Replies (2) of 74559

Jay and Raymond, i would like to drop my two cents to GX bonds. I also bought them recently, to make long story short in the event of restracturing it is about 50c, and there is good chance they will go par. At 20c or less they are undervalued. Jay always enjoy reading your view, since i feel alot the same like you. I have small steel processing business (thanks good not my main bread) and we were first to have a pinch which started in march 1999. I feel we should be early indicator of economic pick up. So far steel prices and scrap price is down. We hope for pick up to come at the begging of the year. If it will I would be comfortable that general economy will pick up also several months later. So far it is all gamble, and market is for gamblers right now. One of the problems which I see that market already priced for significant recovery and high growth rate which I don't see in economic fundamentals.

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