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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: AChan who wrote (667)3/22/1999 9:00:00 PM
From: micromike  Read Replies (1) of 1571
 
There are downward momentum for all software companies like GEAC

What other companies can you compare Geac to?

Well I hate to say anything positive about Geac considering I've been wrong about them a few times before but I guess if I open up my mouth again it can't go much lower.

They have 200K in cash to spend + 100k they can borrow. They have a excellent track record of buying up companies to turn them around to add to their growth and from your comments there is a lot of depressed software companies for them to look at. They have growing revenue from maintenance contracts.

Now the negatives - due to Y2K problems some companies have reduced spending? Do you have any negative that I have missed.

Now the question you have to ask yourself. At what point will the street change its mind about them. Y2K will be over in 9 months. The stock went from 40 to 30 in a week just before the earnings warning and then 30 to 20 in one day after the warning. For you to be correct the stock will drop even further and Geac will miss next quarter numbers of $0.50. I would think they should beat the numbers but I have been wrong before.

Now a observation which could be meaningless.
There has been a lot of large blocks trading in Geac but for the first time today no big blocks other than 30k at $22.75 at the end of the day and then all of a sudden we lost all the sellers or else they dried up for day and it went to 23.
My guess is that $23 is the present resistance before it takes off to who knows were $25 or you could be right and it goes down to $20 or so.

JMHO
Mike
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