Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: lh56 who wrote (20352)	1/9/2002 6:22:31 PM
From: Softechie	Read Replies (1) of 99280

HAL I'm agreeing with Cramer here... Seeing the Possibilities in Halliburton By James J. Cramer 01/04/2002 11:08 -------------------------------------------------------------------------------- When is enough too much with this Halliburton HAL ? As someone who bashed the stock severely in the $20s -- making it a Danger Zone pick on my radio show , click here to listen -- I wonder whether the stock might be an interesting comeback play. As usual, like with Enron ENE , I don't like to lose sight of the fact that HAL might be an all-or-nothing play. If HAL loses a bunch of big cases and runs through its huge insurance reserves, then it will have to file for bankruptcy. If sanity reigns, though, and we get some sort of relief from this craziness that could bankrupt this multi-billion-dollar company, you can expect a powerful move to the upside. That's why I am pricing out the July 10 calls and puts. A buyer of both gets the whole shooting match if it collapses and gets the terrific uptake if there is relief. You can get the package for a total of $4. (More on how this stuff works later, but I wanted to get this piece to you while HAL is in the single digits.) What do I think will happen personally? I think HAL will make it. But it will take some change in the way the courts handle these cases -- or legislation passed before HAL folds -- to make it happen. Right now, even with $3 billion in insurance reserves, HAL might not be able to survive in its current form, just like Owens Corning and USG.

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