Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: SteveG who wrote (8129)	9/3/1998 11:51:00 PM
From: Richard Dunaven	Read Replies (1) of 12468

Steve, "Anyone else catch Gabelli on Squawk Box this AM? He's buying telcos, thinks they are oversold and that M&A activity will resume soon." If you look at CLECs to own for this very reason WCII and ICIX will be tops on the list due to markets served. Add in the fact that both have very high short positions will bode well for their support at these lower levels. As of Aug 15 WCII had 31% and ICIX had 54% of their float in a short position which only helps on the way back up. I'm sure Gabelli has made a mental note of that as well. Considering the # of other funds in his boat and the fact that this market loves profits, they would be stupid not to take there money and run. Considering it would take 8-10 days to cover, times 2 for double prints with no other buying competition occurring, they have there work cut out for them if the expect to cover at a decent price. Given the fact that we do roughly 12% of our GDP in exports now since the slowdown from Asia I find it hard to believe that the market will fall apart tomorrow but since when did this market trade on logic alone. The DOW 30 are exposed and will feel the heat as are many electronic and semi firms but for the most part the small and mid cap firms should start to see a boost from this and the fund managers start to wake up to what is driving the economy. It may take a few weeks or even months but the 401 K $'s have got to go somewhere and if the fund managers seek out value they will find it with the 300,000 plus small to mid caps that really drive this economy and are showing good growth just as they did back in the early 90's. The jury's still out and many other things can happen such as down grades for some of the sectors but hopefully the strong small cap growth Co's will survive. With the market and market caps so low for many of the Co's I would expect that the M&A's or at least the bidding for them should start to heat up soon in the fall. Let's hope we are in the right sector. I think we are! See Ya! Ric D.

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