I just recieved this E-MAIL FROM
STOCKSTREETUSA - stockstreetusa.com
NASDAQ (PSIX) 1 5/32 X 1 3/16
Dear Members,
We have been contacted regarding a "push" for a stock that is supposed to
begin tomorrow. The stock is not an OTCBB stock, it is a Nasdaq stock,
but it trades at OTCBB prices.As of late, PSIX has not had very good news,
and it has been beaten down
to extremely low levels.
We know that at least 30 OTCBB mailing lists
were given this information about PSIX over the weekend, us included.
This is the main reason we are telling you to keep an eye on it. With so
many mailing list heads being given this information on PSIX, there is no
telling how many will send this information to their readers.
Of course, this is a Nasdaq stock, so it will most likely follow the
market tomorrow. however, there is always the outside possibilty that
this large "push" may have an effect on the stock.
We do not own any PSIX. Here is the information that we were sent over
the weekend regarding PSIX:
Analyst alerts
11/06/00 PSIX : Downgraded from Strong Buy to Buy $20 target by Kaufman
Bros.
As I am sure all of you are aware, The t.v. show "Who Wants to be a
Millionaire" uses Lifelines to assist Contestants in doubt... The " Ask
the Audience" Lifeline has a very high success rate and is almost a sure
thing... Well, our Momentum Audience has been flooding our mail boxes for
past few weeks with mail on PSINet ( PSIX )... We can not ignore PSINet,
despite its risk level being high and its price being severly cut down
from its highs in the $60s...We have never received so much mail before on
any particular stock, 95% of the mail is about PSIX as a high
potential/oversold turn-around stock... We have averaged out the Member
sentiment on a valuation for PSINet and found that it ranges from $2.50 to
$35.00, with a running average of $4.25... $4.25 as an average estimate is
well above its current price of $1.25... We have tracked trading in PSIX
for past few weeks and found that this past week the indicators have
turned positive for the first time since their initial plunge...
We tracked 2 ---1/4 million buy orders friday... These orders were filled
at the ask, near the days highs... Block buys filled in this fashion are
indicative of someone buying a longer term position, not, a trader looking
for a tick or two profit.
Positive 10 Day Moving Average Breakout
Positive 8/17/0 Week MACD Breakout
Positive 14 Day Wilder RSI Breakout
Positive 9 Day Wilder RSI Breakout
As most of you know, ZOMB1EMAN is NOT a technical trader, However, when
you combine huge Member sentiment/ Unusal Positve Trading/ and technical
indicators turning positive/ Large rumors mill generating several
reasonable scenarios/ Speculation of potential buyout/merger by News
Sources like Business Week... All in a very short period of time, PSIX is
looking stronger off of recent lows.
Current Institutional holdings as recorded on Multex:
Top Institutional Holders of PSIX
Janus Capital Corporation 20,528,853
Price (T.Rowe) Associates 12,943,808
Capital Research And Management Company 7,041,540
AXA Financial, Inc. 4,513,122
Franklin Resources, Inc 3,809,220
Munder Capital Management, Inc. 3,360,000
FMR Corporation (Fidelity Management) 2,746,500
Barclays Bank Plc 2,254,449
Invesco Funds Group, Inc. 2,187,620
Firsthand Capital Management, Inc. 2,078,200
Another factor to consider in evaluating PSINet is the recent margin call
that forced PSINet Chairman and Chief Executive William Schrader to sell
more than 11 million shares of the company's common...This is what broke
PSIX to below $2...Now that this is factored in the light of recent block
purchases, we may expect PSIX to at least drift back to the $2 range
without any other factors being included.
The following is the Corporate Profile Report on PSIX that can be seen at
momentumtraders.net in full detail.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
PSIX
PROFILED 12-04-00 AT $1.1875
90 DAY TARGET ALERT OF $5.18
MOMENTUM MEMBERS:
We agree with analysts who believe that the bandwidth-hungry applications
only dreamed about a few years ago are finally arriving, meaning
communications carriers that have built excessive network capacity at
great costs may not look foolish for long.
Ther are several companies that have already assumed enormous debt in
order to lay the groundwork for the Future Digital Economy, particularly
PSINet... This debt was the price for building up a state-of-the-art
InfraStructure...And now PSIX is sitting on a Goldmine... The question is
whether the bandwidth market realities will converge quickly enough for
the company to be able to benefit from its efforts, or whether the risk
the company took in buying and building so aggressively will knock it out
of the game before it gets the chance.
One of the main factors that separates PSIX from the rest, is their very
substantial cash position...their usage capacity continues to skyrocket,
but there is a real threat that it won't come fast enough or at a price
point that allows the companies to show positive operating cash flow and
service their debts... However, PSIX has maintained a strong cash position
and has recognized that their explosive growth must be adjusted downward
in the current economy.
PSIX has established a Global Network that has incredible future earnings
potential and is the Envy of most of the Tele-com giants...and some
cash-rich companies out there are primed to take advantage of PSINets
current over expanded condition.
PSINet offers Net access, Web hosting, e-commerce transactions and other
Internet services in 900 cities and 28 countries worldwide. Company
executives believe their fiber-optic and data center hosting properties
are among the company's most valuable assets.
"PSINet has built a very valuable company over the years, and we have
little doubt that the company could find buyers for its assets,"
Wasserstein Perella analyst William Klein wrote in a research report. "We
have no doubt that the bidders' list would be very long."
Bandwidth boom to benefit surviving telecoms
A recently released a report predicting a 300-fold increase in demand for
network bandwidth in the next eight to 10 years. Another prominent
researcher, Boston-based Adventis (formerly Renaissance Strategy) is also
changing its tune, proclaiming in an upcoming report that high-speed
connections to the Net will drive demand for more capacity among network
operators.
"The outlook really is very, very good," said Tracey Vanik, technical
director for RHK. "We don't see any reason to suspect we're at the top of
the (growth) curve. We're at the bottom of the slope."
PSINet is one of the world's largest and most experienced providers of
IP-based communications services for business. We offer a complete range
of Internet solutions that can help you cut costs, boost productivity,
expand into new markets, and improve the way you work.
Our services include:
Corporate Internet access and private IP networks
Managed Internet security
Web and database hosting services
Electronic commerce solutions
Voice, fax, live audio-video, and other applications
PSINet also makes it easy for your business to use the Internet
efficiently and economically with 24x7 network operations and monitoring,
outstanding customer support, and free IP tutorials.
PSINet delivers this full line of services to small and medium-sized
businesses as well as a quarter of the Fortune 500. Our customers also
include government agencies, educational institutions, and information
services companies.
PSINet operates one of the industry's largest and most advance fast-packet
Internet access networks. PSINet is the only independent facilities-based
ISP in the world, which enables us to act quickly and flexibly to deploy
new services on behalf of our customers.
Headquartered in suburban Washington, D.C., PSINet is a major presence in
the international Internet community, with more than 800
points-of-presence and operations in United States, Canada, Europe, Latin
America and Asia.
Our Network
One of the most important things to know about PSINet is that we
engineered our network specifically for Internet applications, resulting
in an infrastructure optimized for Internet performance. It's the salient
feature of our service, setting us apart from telephone companies, systems
integrators, and the dozens of ISPs you see advertised in the back of your
local business section.
When we set out to build our network, we drew on years of experience in
pioneering the standards and technologies that became the modern Internet.
Using the same creativity they used to establish the Internet, our
engineers projected ahead, imagining what sorts of applications would be
running over the Internet in decades hence.
The logical conclusion was that our network needed to be
Internet-optimized consciously and specifically designed to accommodate
IP-based applications such as Internet telephony, electronic commerce, and
desktop videoconferencing. In 1992, we began to build a switching fabric
(at the time consisting of frame relay technology) that provided a
scalable infrastructure on which we built an IP architecture with
performance and reliability standards not obtainable by any other ISP.
Today, with more than 800 points-of-presence (POPs) worldwide, our network
remains a standard for technical excellence. PSINet also maintains a 24 x
7 Network Operations Center to continually monitor the performance of our
system. As the primary nerve center of the PSINet backbone, the NOC
assures our customers that their service will be there when they need it.
There is a difference among Internet service providers. The advanced
capabilities of PSINet's Internet-optimized global network are a critical
part of that difference.
THE FUTURE IS NOW... IN 2001.
Momentum Traders Network believes high-speed connections and worldwide
growth in Net use will drive an expansion of network capacity and result
in opportunities for agile network operators, See the recent announcement
from Sprint that it would hike capital spending to more than $6 billion
next year, from $5 billion in 2000, to keep up with demand.
Momentum Traders Network also estimates that worldwide users of the Net
will more than double by July of next year, from 380 million today to 800
million. As an example, We found that subscribers to the Net in China are
growing by 2 million per month.
The studies are good news for equipment makers such as Nortel Networks,
Cisco Systems, Lucent Technologies and Ciena, and ofcourse PSINet among
others, which can only benefit from continued capacity demand despite a
current climate of Wall Street skepticism.
"It reaffirms our belief on the impact of the Internet," said Don Smith,
president of optical Internet solutions at Nortel. "From an industry
perspective, I think it's important for all of us to get our hands around
this."
A third study from Infonetics Research, out Monday, predicts that spending
among large nationwide telecommunications carriers will grow 220 percent,
from $13.3 billion this year to $42.5 billion in 2004, further bolstering
the notion that capacity demand will continue as operators scramble to
keep up with the latest technology.
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