Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.850

+1.6%

Nov 13 3:58 PM EST

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To: Bill Wexler who wrote (23)	3/7/1999 2:27:00 PM
From: John Nobrega	Read Replies (1) of 10293

LEAP of faith Wexler said on March 4th >Good point. I think that it would probably make a lot more sense to simply buy the Jan. 2001 10 Leaps (ZWPAB) Last I checked they cost 3 3/8 with 21 months to expiration. With the stock at 8 and change, these will give you pretty much all the upside if the stock recovers before then. However, the way things look now CPU may be thrashed for a long, long time. If the stock dives another 2 bucks, those calls will lose 35 - 40% of their value.< The Jan 2001 10 LEAPS traded at 1 7/16 on Friday for a 57% loss if you had bought on March 4 at 3 3/8. They will probably come out with 5 LEAPS soon, which might be a great way to play CPU in the coming months. I would wait until the news is really bad though just to be on the safe side. No need to rush a turnaround play. This formula worked well for IFMX, when Jan 2000 5 LEAPS hit 1 3/8 last fall. You could have sold them for 8 a month ago, or 5 on Friday. The big question for me is does the current CPU management have the skill and discipline to needed restructure CPU, or will they need to clean house and bring in new leadership like IFMX had to do? Long on IFMX, Wait and see on CPU

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