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To: stomper who wrote (108943)6/15/2001 7:57:49 AM
From: smolejv@gmx.net  Respond to of 436258
 
...plus 10K more to be laid off.

dj



To: stomper who wrote (108943)6/15/2001 8:12:19 AM
From: Earlie  Respond to of 436258
 
Stomper:

Man, am I ever glad I got aggressive over this last week.
The warnings have been coming in like summer black flies in the northern bush and are even worse than I expected (and I was expecting a hell-dammer). We may (finally) see blood in the streets in the next few days.

The heavily exposed funds might try to ward off a nuclear strike with concentrated bids right at the opening, but there is just too bad news around to prevent serious selling. Option expiry considerations may also soften the downside, but once that is behind us, I suspect we witness a serious move towards the exits. Next week could be more than interesting. I see no reason to back away from an aggressive stance.

Best, Earlie

Best, Earlie



To: stomper who wrote (108943)6/15/2001 8:49:23 AM
From: KyrosL  Read Replies (3) | Respond to of 436258
 
The $19 billion write off wipes out more than 50% of Nortel's book value. Not much solace for those that thought that buying Nortel at $10 meant that they were buying at book value. Another unmitigated disaster. I am expecting a similar writeoff from Cisco anytime now. These guys need badly the resulting tax benefits.