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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (633)	7/15/1999 8:38:00 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 708

PROG, this quarter and next are still going to be weak, and there is a possibility that the EURO decline of 10% in the last quarter will have a serious impact on their thin margins in Europe, IMHO. I think the recent advance is anticipation of good earning (the $6 MM order that moved from the first Q to this Q), but we are running into a lot of supply in the $14 to $15. If there is a strong upmove next week on earnings, I would get out, but since I do not own any at this time, I won't. If you decide to stay because it is still a "value play" here with a long term potential and technically it is once more in an uptrend, you should really protect your position with a stop loss at about $13 or so. As for ABACF, I believe it will drift back down to the $.15 to $.16, then if they succeed in getting their energy deal lined up, maybe there is something there. I really think that it is too dangerous a play. Something "might happen", but what is the valuation of what they have? What of this really belongs to share holders? As for Japan, short of another worldwide financial melt down, I do not see 15,000 on the Nikkei. If you remember on the Asian thread I laid out once an "action plan", and they have done everything in that plan (including consumer coupons), the only thing they have not done yet is opening their gates to emigration and simplify their internal distribution, they are working on the latter and probably will never do the former, but they are on the mend. Remember that the big bang (the release of the postal funds), will create a wave of liquidity, a lot of it will be reinvested in the Japanese markets. Shorting the Nikkei would not be smart, IMHO. Zeev