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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: gruetz who wrote (12199)	10/17/2000 12:24:32 PM
From: Bernard Levy	Read Replies (1) \| Respond to of 12468

Hi gruetz: I would still be very cautious on WCII right now. The telecom picture is the grimmest I have ever seen, with T at levels below 1990, and FON and WCOM below 97 levels. Emerging companies with better capital structure than WCII, such as MFNX and GBLX, are in terrible shape. On junk bond markets, this morning Bill Gross was recommending to stay away from all junk bonds and most corporate bonds, indicating a hard landing was quite possible. If the holders of telecom junk bonds are losing their shirt, where does this leave the common holders? Right now, I am bracing myself for a long grim period of hibernation. I guess things won't start looking up until Alan Greenspan starts cutting rates (next Spring?). Regards, Bernard Levy