American Depository Receipts: Value Message Board

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Strategies & Market Trends : American Depository Receipts: Value

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To: Dwight E. Karlsen who wrote (2)	8/28/1997 11:18:00 PM
From: Michael Burry	of 33

Re: Nokia Nokia is on the neck of a daily head and shoulders top -- it's already completed the right shoulder... Whoops, I forgot I don't do that anymore. Nokia is one of the world's great companies, but at its current valuation it is a momentum stock that will rise and fall with the market, as you say. If it falls, the value investors won't be there to catch it for another 20 points or so. The value lay in its growth, which is phenomenal for a 24B MCap. But I worry what would happen if that growth falters. Technically, why not buy at this level and see if it doesn't break the H&S. If it does, sell -- one has a defined exit point with minimal loss. Interesting stock. Yeah, I was one of the technician/momentum players that got into all kinds of fights on that USRX thread. But I've changed. Now I'm a value investor with my own site and a good thread here on SI. techstocks.com sealpoint.com Good to hear from you again Dwight -- you were one of the rational ones on that thread, I believe. Good Investing, Mike

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