Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (125)	3/26/1998 2:30:00 PM
From: Phil Jacobson	of 13094

Re: PSIX, don't just jump on it. I just talked to someone who used to work there and knows a lot of people at PSI. Their stated strategy is to acquire a competitive local carrier and other smaller ISPs, they're very much against getting bought. They just filed their intention to take out something like $300M in debt to finance the acquisitions. This appears to be insane for their financial situation, which isn't very good. Their management is questionable. The pop in price could be the result of renewed interest in the company as the stock has been very depressed. Earnings come out in a month but will probably not be good. To summarize - they could be about to be acquired but it would fly in the face of direction stated in recent filings and previous actions. If they are bought they should be able to get around 15 but caution is necessary. It's far from a sure thing. Phil

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