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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (18379)	6/20/2001 11:23:02 AM
From: Zeev Hed	Read Replies (4) \| Respond to of 30051

I really do not know. It is very difficult to analyze this one. I have no idea how much cash they can generate from selling off divisions, and while they are selling under book, am sure that that book contains a fair share of intangibles. It is making new lows, and until their situation clears up, new lows beget new lows. I also think that their debt has been or will be downgraded, and they are under time pressure to restructure their financing before they can complete some of their outstanding divestiture. When financing is done under pressure of time and in bad markets, there is no forecasting what the results might be. Are you ready to double up at $2.5? You probably be better off waiting for a volume spike to the 60 MM or more as we had in late March, rather than buying during a "Chinese torture decline" as we have right now. Zeev