Elamex(ELAMF) Message Board

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Technology Stocks : Elamex(ELAMF)

ELAMF 2.150

-15.7%

Mar 7 3:00 PM EST

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To: j rector who wrote (113)	10/9/1997 11:00:00 PM
From: VALUESPEC	of 276

Ron writes: <<I just read a Morgan Stanley/Dean Witter report that the Peso should weaken to 8 by end of the year and to 8.7 in '98. With new contracts based on current peso value, the 4Q and after should improve earnings. It's likely you are right about strength being in 4Q and '98.>> Ron, it looks like Morgan Stanley will be right since the Peso lost 1 today against the dollar. Now it takes 7.7 pesos to buy $ 1. Since ELAMF gets paid in American dollars and pays its most of its expenses in Pesos, ELAMF's expenses are getting cheaper and cheaper. I haven't calculated the savings, but my guess it that it will be significant, especially if the Peso keeps losing value. Word that the Fed might not lower interest rates might have contributed to today's large fall against the dollar.

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