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To: Lee Lichterman III who wrote (29435)	10/13/1999 5:09:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

AAPL earns the expected 45 cents biz.yahoo.com Good Luck, Lee

To: Lee Lichterman III who wrote (29435)	10/13/1999 5:12:00 PM
From: Lee Lichterman III	Respond to of 99985

Queensway warns of Q3 earnings (Full text of press release from Canadian Corporate News) OCTOBER 13, 1999 Queensway Financial Holdings Limited Company Announcement TORONTO, ONTARIO--QUEENSWAY FINANCIAL HOLDINGS LIMITED (``Queensway') announced today that it anticipates selling a portion of its investments in the near future for purposes of reducing its bank debt and as part of a decision to restructure its investment portfolio. As a result, a significant portion of the investment portfolio primarily held at the holding company level will be reclassified from long-term to short-term, necessitating a write down of these investments to their market value which will be reflected in the company's third quarter financial statements. Queensway financial statements as at June 30, 1999, reflected that the total market value of its investments was below total carrying value but the write down, expected to be only a portion of this amount, is estimated to be approximately $15 million to $20 million. As a result of the write down, Queensway's operating results for the third quarter are expected to be less than its historical average for previous third quarters. Jim Petcoff, President and Chief Executive Officer of Queensway stated: ``It is important to emphasize that recent steps taken with respect to the recognition of market value deficiencies of a portion of our investment portfolio and the reserve strengthening for Paradigm Insurance Company do not have an impact on our continuing insurance company operations. Our ongoing insurance subsidiaries remain strong and we are pleased with their operating results. I am committed to continuing Queensway's vision as an acquirer and operator of excellent property and casualty insurance companies.' Queensway is a financial services holding company which seeks to achieve a superior rate of return on invested capital and to build long term value for shareholders through its focus on investments in the property and casualty insurance sector in North America. The primary business of the company's principal subsidiaries is the insurance of personal and commercial automobile risks in Ontario and the United States, and commercial liability and property risks in the United States. FOR FURTHER INFORMATION PLEASE CONTACT: Queensway Financial Holdings Limited Glenn Gibson Senior Vice President, Finance (416)955-0244 biz.yahoo.com We are losing money in the stock market so we are going to sell holdings at the lows so we can try to make it back by buying back higher later <gggg>

To: Lee Lichterman III who wrote (29435)	10/13/1999 6:03:00 PM
From: Challo Jeregy	Read Replies (3) \| Respond to of 99985

Lee (and bb), Interesting that you should mention that . . . IF we were to bounce off either at the previous low tomorrow or slightly above the previous low, would you consider it a successful retest and double bottom for the next leg up or would the fear of further interest rate hikes, etc take precedence and would you wait for another chance to short the rally instead fo going long??? Barbera (the local TV TA'er) sounded as if he had lost his best friend today.<g> He said that he thought we would retest the recent low intraday tomorrow and rebound over the next couple of days, possibly up to the 200 day resistance line (what is that - about 1310?), before the next leg down. He said due to the "awful" internals of this market, he thinks this is looking more and more like a bear market. He didn't sound very happy and this is a guy who usually has a very big smile. edit - I forgot to mention. He also said that this next rally would be the time to sell all longs.