Hi NW,
I'd recommend being careful right now. WinStar should be announcing their 3Q line numbers probably tomorrow, if not, then Wed. If they announce preopen, the stock will gap up or move up quickly to what may be a near term high. The stock has already bounced 50% off it's recent lows, and the Dow is bumping up against 8000, which may prove to be the top of a trading range for now. If you were to buy in the morning, you just may get in at the high.
The CLEC's big runs may get hit with profit taking, the Dow may trade back lower, and remember, we have a couple more weeks of October left. Personally, I still think the Dow could go back and test 7000 this month, so I'm still gonna play pretty conservatively.
However, if you just want to put some shares away for later, aren't on margin or close to margin calls, then 15 for WinStar is dirt cheap. I don't think there is any question that within the next year or two, it will be trading much, much higher.
Good luck,
Steve |
