Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: rocket man who wrote (7994)	8/29/1998 5:02:00 AM
From: limtex	Read Replies (2) of 12468

RM - Theplain old facts are that only a couple of weeks ago Ralph Accompura I think he's from Prudential coame on TV on a Tuesday morning and said that he was changing his mind and that this was worse than he had thought and that Yes this was a bear call. Mark Haines, David Faber and theother nice guy whise name I forget were all very surprised but eventually realized that at the end of the day Ralph had chnaged his mind and called a bear. The market in August up until last week was one of a very bad day and then the old buying opportunities and so like the frog we all stayed in......unitl this week and now its too late for many people. The world hasn't really got any worse just this week. Russia has always been a mess one way or the other but it has never been a huge expeort market for the US or Europe or Japan or S. America. S. America is used to having recurrent economic turmoil so there's nothjing they can't handle. What is new is that investors are going to get scared and run from the market. That is a problem becuase it is the population of share buying investors that gives stocks their P/E ratios. Nothing else provides a P/E ratio - only the mass of investors buying the stocks or mutual funds. Couple this with shorters and you have literally no limit to the bottom. Simple as that. As for recovering in this climate just think of how many investors are going to redeem. $2.6bn taken out in August up to last week. Just think what we'll get from now on. This is all the more upsetting since WCII is going to be a major winner but whether to stay in now is an issue. As for revovering it might be ten years or more to get back to where we were and in that time who know what other nasties are waiting out there. IMHO the only thing that could change this climate is our friends the Japanese. If they put the necessary reforms into their commercial structure then confidience would return. You would then have the three world engines humming ie US/EU/Japan. Nothing would worry that combination. On the other hand if the Japanese don't do this or procrastinate (as they ususally do and are and doing probably will continue todo) then the opposite will happen which is where we are today. BTW did anyone see the President on TV yesterday talking about his Russia trip? Was he suntanned or what? He just didn't look good and confident like he usually does. Heaven know how he will play this one since its clerar that he's only going because it would look even worse if he didn't. Regards, L

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