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Microcap & Penny Stocks : OWLD OneWorld Systems
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To: Ron Kline who wrote (1439)7/6/1998 7:44:00 PM
From: Potato Farmer  Read Replies (1) of 1648
 
Ron,
Recall back around Thanksgiving 1994 when a busted growth stock called Micron dropped all the way back to $2. Most people agreed it was cold and dead. Forget about it. From there it raced nonstop up to $94. I have not checked it lately but I think it settled recently around $20 or 30. Unisys was another extreme example, dropping from about $50 to just above $2, then rebounding to around $6 or 7 for a long time. It is $28 today. General Magic is another one that I thought dead, but it has multiplied 10 times. Each of these companies made their fall in stages, rather like a bowling ball on a staircase. There were dead cat rebounds followed by worse drops. But after being thoroughly pounded they all came back.

So betting on the "dead cat rebound" (or "catching a falling knife") is a sucker's play. Betting that a decent company can come back from near dead long term can be worthwhile. Micron took about a year and a half on the way up. Unisys has taken 8 years to climb back. General Magic has taken about 1-1/2 or 2 years.

I'm still unconvinced that OWLD has the staying power any of those had. If the current report shows signs of life then I will buy in. Otherwise I'll watch and wait. I hope you're doing the same.

Pete F.
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