Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (9260)	2/3/1998 12:55:00 AM
From: Druss	Read Replies (1) of 9285

Pancho--I shorted it once already. I got a couple of points and a TA gunslinging friend of mine said it looked oversold at 22 so I covered. I covered just about bottom so no complaints at all. I was out when the big jump hit. The company still puzzles me with the last acquisition. It looks more to me like they acquired more debt. The per share level of debt is astonishing and this thing went up after they diluted 20%. If we get a market tank I think it will be drug down on the old 'a falling tide exposes the mud' theory. Otherwise I will try to hit it before next earnings. I think the costs of integrating the latest acquisition will be murderous mixed in with the hideous debt. Revenues will undoubtably go up (which the market just loves) but the loss should be excellent for those of us on the short side. I stepped out of it for the time being incidentally because I felt it would be somewhat slow to break down. All the Best Druss

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