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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: John Langston who wrote (5152)	7/23/1998 7:15:00 AM
From: JZGalt	Read Replies (1) of 18928

John, just a quick note (or two) on TDW. I listened to the conference call the other day and the CEO was tickled pink that they had been buying back shares. In the quarter ended in June they had repurchased 500,000 shares for a cost of $18 million dollars and in the past 3 weeks had repurchased 747,000 shares for $25 million. He was absolutely beside himself that the market would be so dumb as to let him buyback shares in the low $30's. I had scanned through my ML reports on the oil sector and saw that Michael Price was rumored to have been buying TDW near the end of June. What does this mean? Since TDW is reacting to the low oil prices and competition in the GOM, you may want to set the CASH level relatively low. FWIW, I own a bunch of TMAR which is underwater right now and think it is the best for the price, otherwise I'd be buying TDW as it looks like a good long term value stock. I'm not sure you would want to AIM it unless you are willing to pull some "Vealies" occasionally. If and when la Nina hits the east cost this winter, I suspect you are going to generate sells in this group. When I set the CASH position for our model portfolios, I took a look at a service that is no longer public (I'm not a member) and it appeared that this group was in the "very low risk" area, but had not yet bottomed. So far the "had not bottom" has worked out. ;-) ---- Dave

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