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Pastimes : Ask Steve

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To: hpeace who wrote (4450)12/10/1997 9:28:00 PM
From: Adwiz  Read Replies (1) of 4749
 
What's Your Reading on SIII?

Steve: Like you I went through two puts on SIII, but am still long at 13. At one time you were very bullish on their prospects for '98. If you listen to the chatter on the SIII thread, you'd swear that the company will be going bankrupt any day now -- accounting fraud, no new products, shareholder law suit, bad management, etc., etc. As you know, it's selling below book value now and could get even lower.
Is there any hope here, or should I just dump it. I can't even claim a tax loss because it's IRA money (about $5K). My breakeven is 10 and I don't mind holding if there's a light at the end of the tunnel. Sorry for the long-winded message! Thanks for your help.
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