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Strategies & Market Trends : The picks

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To: Steven Messina,L.M.T. who wrote (3915)	2/5/1997 10:10:00 AM
From: p. webster	of 6124

New Pick: MFN I thought about this all night and decided to go with it. There is high risk in this. Stock tanked on Fri. from 15 to 2, as it was discovered that they "cooked the books". Law suits have followed. New CEO already in place. The current risk, as I see it, is that on Thurs. they have 100M debt due. If you are very cautious, wait for news on Thurs. re: refinancing this debt. Also, there are about 170M shares out, about 110M have already changed hands. The other 60 M will cause selling pressure as this stock rises. At least one Fund is holding, as they believe that the stock is worth $6-8 at present time. I don't know how many shares this fund holds. Current price 2 3/8 -- 2 1/2 B. Broom first mentioned this on this thread. I'll monitor daily Good luck. P. Webster

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