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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: If only I'd held who wrote (62789)	11/16/2000 6:50:36 PM
From: Tim Luke	Read Replies (1) \| Respond to of 122087

itsnt just amazing how the shine has worn off even on the big name stocks...

To: If only I'd held who wrote (62789)	11/16/2000 6:57:34 PM
From: RockyBalboa	Respond to of 122087

I had a bit more luck during the trading session as I got pieces at $2 flat or 201, and flipped them for the usual teenie. Took in some at 1.76 afterhours but had to tender awhile until I got them rid. I had a similiar experience in WOMN today. First it stalled at 3/4 but then the MMs didn't show any bids, made some late prints and the stock "reopened" at 3/8 (it was never halted, only trading stopped except the late prints). Some minutes later 1 million shares printed at 5/16, tsk, and there was some hurry to show volume & dump more shares. The KNOT was the other stock, after the million at 5/8 it climbed over 1 again. Disgusting.

To: If only I'd held who wrote (62789)	11/16/2000 10:37:25 PM
From: Smart_Money	Respond to of 122087

This morning PSIX was getting hammered to 1 9/16 (I had bought in the week at 1 7/8). so I sold all my shares and then 30 minutes later the stock halted :(. The stock open so I put in order to buy at 1 7/8 thinking I stole it. The stock goes like you say to 1 5/8 and I am still holding and next thing you know it's at 2 1/8 so I sold. I could smell a rat and was very happy to sell.

To: If only I'd held who wrote (62789)	11/17/2000 8:19:55 AM
From: Tim Luke	Respond to of 122087

=DJ PSINet Might Face Challenges Finding Buyers By Michael Buettner Of DOW JONES NEWSWIRES (This report was originally published late Thursday.) RICHMOND (Dow Jones)--PSINet Inc. (PSIX) is considering a sale of all or some of its assets in order to raise much needed cash, but the challenge might be finding a buyer right away. PSINet hired Goldman Sachs & Co. on Thursday to help analyze ways to raise cash that might include a strategic alliance or the possible sale of all or a portion of the company. The company has undergone some troubled times in recent months as its chief executive and president resigned recently, and its cash position fell to $1 billion while its quarterly burn rate is more than $500 million. The company said in September it need more than $600 million in 2001 to fund operating losses. Any potential buyers are well acquainted with PSINet's problems, said Drake Johnstone, an analyst with Davenport & Co. The large telecommunications companies are unlikely to offer bids now for assets that they may later be able "to buy out of bankruptcy for 50 cents on the dollar," he said. PSINet "is going to have a tough time selling assets for enough value to get any equity for the shareholders. They'll be lucky to get enough to pay off their debt," Johnstone said. Frederick W. Moran, an analyst with Jeffries & Co., said PSINet's largest segment, wholesale connections for Internet service providers, or ISPs, isn't growing, while some other segments are actually seeing declines in revenues. The one business that is growing, Web hosting, would only bring in about $2.5 billion even if sold at a generous 10 times annual revenues, he said. As for the company's fiber-optic network, which PSINet cited in its announcement, Johnstone said, "In my opinion, there's a glut in long-distance fiber." The company's stock has been struggling for several months, having fallen from a high of $60.94 in March to under $2 a share. The shares took a particularly stiff beating Nov. 2 after the company reported worse-than-expected third-quarter results. Although the stock rose to $2.38 on Thursday, observers didn't seem confident about the company's future. Moran said PSINet's mistakes included acquisitions that "didn't make sense." He suggested that PSINet could be a "real bankruptcy story, given the poor state of their balance sheet." Obtaining additional cash could be problematic, said Riyad Said, who follows the company for Friedman Billings Ramsey & Co. "The funding environment is not very positive right now." The company could raise enough cash to keep operating by selling some of its businesses, but it also needs to lower its burn rate. Moran said PSINet probably won't be the last telecommunications carrier to disappoint Wall Street. He said there are "plenty of others," such as ZipLink Inc. (ZIPL), that face an uncertain financial future. ZipLink officials weren't immediately available for comment. PSINet ended regular-hours trade Thursday at $2 a share, up 19 cents, or 10%, from Wednesday's close. Volume was heavy at 21.9 million shares, compared with average daily volume of 7.5 million shares. As reported, PSINet said Thursday that the company received notice that a bank that had made a loan to Chief Executive and Chairman William L. Schrader made a margin call on the 11.4 million shares that were pledged by Schrader to secure the loan. -By Michael Buettner, Dow Jones Newswires; 804-698-7385; Michael.Buettner@dowjones.com (END) DOW JONES NEWS 11-17-00 08:16 AM