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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: MDGO who wrote (6494)	6/14/2000 12:37:00 AM
From: Ellen	Respond to of 15615

At current price levels it would seem to me to be accumulation rather than distribution. Guess we'll see which one of us is right. As my mother would say, want to place a friendly, gentleman's bet? Regards to you Marv.

To: MDGO who wrote (6494)	6/14/2000 5:44:00 AM
From: JDN	Respond to of 15615

Dear Marv: I think the time to acquire a stock is before the institutions buy in not after. Once a stock is heavily weighed with Institutional ownership only one way to go IMHO and that is down. Considering that GBLX is not yet profitable, and never has been, I would say a roughly 33% Institutional ownership is pretty incredible (remember these guys have a really short time horizon in general). Once GBLX is close to or at profitablility I bet you will see the Institutional ownership blossom up to 60-70%. If you are in BEFORE you will benefit. Another reason for buying now, is that it sure appears there will at least be an offer if not an actual sale of GBLX to someone else. No way of knowing the terms but if they are anything like the rumored on which was rejected they sure represent a major capital gain from these levels. Finally, the spinning off of some of the businesses previously discussed here offer some potential for the stock to appreciate although I suspect only modestly. The key IMHO is for them to complete the system (now apparently funded and on schedule) and become profitable. That is the basis from which all good things should spring. JDN