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Strategies & Market Trends : Swing Trade Ideas

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To: Mason Barge who started this subject	1/27/2004 12:03:51 PM
From: Mason Barge	Read Replies (1) of 7

AWE (AT&T Wireless) Long 11.02 I bought 1k AWE at 11.02 this morning. The fundamentals of AWE stink and I would have it short except for one thing: It's for sale, and SBC is extremely interested in buying it. There are at least three other wireless outfits talking to them. This will apparently be a friendly takeout: "REDMOND, Wash., Jan 22, 2004 (BUSINESS WIRE) -- AT&T Wireless (AWE) announced today that its Board of Directors has decided to explore the company's strategic alternatives. AT&T Wireless said significant interest from a number of other companies, as well as global and domestic industry dynamics, led to the Board's decision. However, the company noted there can be no assurance that any transaction will occur." My idea is that we will see a bid above $11 per share (I have heard $14 but this is unsubstantiated rumor) in the next few weeks, approved by the AWE board (which btw has suspended its meeting until something firmer is in the board). This is a highly speculative play, with about $3 upside or downside depending on whether a takeout occurs.

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