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Non-Tech : Invest / LTD

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To: drsvelte who wrote (1526)	8/4/1998 5:42:00 PM
From: bw	Read Replies (1) of 14427

I know today was like shooting fish in a barrel, and did good with my FMO short. Again, this is basically an auto-parts company that recently lost $750,000 p/day with the GM strike. The strike lasted 50 days...The company is way over-extended on credit & shares to be redeemed. Couldn't break $60, and now seems headed for $38 target. Not holding overnight, but will play intraday now that its pattern is becoming familiar. Also bought some MDCO @ $9 3/4. Don't know what came over me! <g> Even though MDCO is in the thick of the declining shallow water day rates, we all know their balance sheet can weather the storm...or still a takeover target? What's everyone's take on consolidation in the OS group? Is it such a chummy group that hostile takeovers at bargain prices don't occur? [I must be reading too many of Slider's posts] Do I really want to admit that I read them at all? <g>

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