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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Sweet Ol who wrote (11907)	1/25/2002 8:05:08 AM
From: MetalTrader	Respond to of 23153

The comment making a comparison of wireless to CLECs is indeed the aspect that gives me pause in a sector I've always found good trading rhythm. I have been watching the towers very closely the past week and see one of two things happening. One is an opportunity, the other a warning. I wish I knew for certain which. The huge disgorgement of tower company stock into the market is something I've expected for several months. The third quarter calls of the companies clearly indicated that growth would be measured and modest in the best scenario. Much of the ownership of the tower companies is in high growth mutual funds. At that time I noted these funds would not keep them in their portfolios. They were style wrong. So when the tower companies cracked I took my ISO hand and panted myself on the back. Then I got spooked... I remembered the CLEC debt debacle, when the debt holders started to panic and hedge bond exposure by shorting the stocks. Eventually many of them went up in smoke. If that is the case, ugh. I've taken a bet on CCI with call options, but I admit it to be an unseemly investment for me, since without better knowledge it's a coin flip. Next whiff of purging, I'll be gone. More generally, the past couple days looked very frothy to me. Put/Call ratio at .46. Last time it was there was January 2000. Storm flags are out. MT