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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Paul Moerman who wrote (50)	2/4/2002 10:59:08 AM
From: Michael Young	of 787

Re KM & HAL: KM stock will eventually go to zero, as equity holders will get nothing in the bankruptcy. KM has a ton of debt that gets priority. On the other hand, I've noticed a trend where these bankruptcy stocks trade down to around 50 cents on the filing announcement and then bounce to over $1 on short covering. Joe nicely took advantage of this pattern. I bet HAL gets back to that $10 area. There will be more asbestos verdicts to to scare investors again. I previously thought the stock would eventually go to zero. But my latest thought is that they can hold on for long enough (3-5 years) to get some relief from congress. MIKE

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