So where to from here? My WAG, for what it's worth, is it's clear Sidgmore & crew are making all the right moves (so far). But todays markets are all about showing the money (and double tripling checking it with more than one audit committee - I joke - but not by much), hitting announced intentions and selling into every sign of strength in the mean time. As such I expect WCOM to wallow around between ~$1.30 and $1.60. There appears absolutely no reason to chase this stock. Indeed, even after the credit line is announced as being secured (along with sufficient details to satisfy any independent bean counter) I still don't expect much through the summer quarter. The market has been roundly burned by the likes of XOXO, Global Crossing, and all the rest, so will probably need to see hard evidence.
I think your take on the situation is pretty right on. I have picked up shares in the $1.30's and will hold them. If WCOM goes down there again, I will accumulate more. However, I can't afford to put too much $ into it because I agree that it will be dead money for a while.
ted |
