Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Ploni who wrote (5148)	3/17/1998 6:30:00 PM
From: Roger A. Babb	Read Replies (4) of 18691

Charles, you know the bulls are running wild when news like the following makes a stock leap up: Chase Manhattan Bank Corp (CMB - news) jumped 6-7/16 to 134-3/4 after announcing it would cut 4,500 jobs and take a $320 million net charge in the first quarter. I am old enough to remember when announcing big charges and layoffs would cause a stock to go down. Now the ultimate play would be to layoff everyone except top management and write off all assets as management bonuses, stock price would go to the moon for a company that tried this!

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