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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: besttrader who wrote (21999)	5/10/2001 11:43:35 AM
From: American Spirit	Respond to of 37746

Slow until it's fast. WCOM has been held down for a long time. I'm not convinced about it yet but figure at around $18 what's the downside for the next three days? It showed some real pop the last 24 hours. Large short position which could start covering. If I were short I'd be nervous about their over-subscribed bond offering and the $2.10 pop from yesterday's low to this morning's high. Getting volatile again and probably to the upside. You know me, I'm betting on a fed rally. Otherwise I wouldn't be nearly so invested. WCOM long overdue for some irrational exhuberance to the upside which I would consider correctional. Has the value to support it. And watch out for rumors. Takeover? Being taken over? And their MCI spin-off looks positive. Arbitrage situation now probably holding it down, but everything can change very quickly as we all know.