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Non-Tech : Cityscape Financial (CTYS)

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To: Ploni who wrote (1361)	10/23/1997 9:53:00 PM
From: Rational	Read Replies (1) of 2544

Charles, I have not been able to keep up with the posts in CTYS mainly because I have no investment in it now. If you recall, in all my posts, I have indicated good and bad sides of the CTYS saga. For example, in one of my posts soon after BS moved in, I had indicated that it could be either a very positive sign or a prelude to take CTYS to Chapter 11 (BS has lent a lot of money). I had believed then and do believe now that Chapter 11 is not a high probability event, but cannot rule it out because of two things: * CTYS will do loan sales and foreclose on the delinquent loans through an outside agency despite its in-house set up, and * I saw a 5+ million share block traded today and the buyers all along have been "bottom fishers" just that the bottom has been shifting downward in a secular trend. If you recall, I had also posted that before I buy any more I would like to see their formal Q10 report on earnings. Thus, before bottom fishing, I would like to wait. The price has been drifting downwards because of CTYS fundamentals that the big sellers seem to know much more than we little guys can. Sankar

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