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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (4555)	2/6/2002 1:06:27 PM
From: KevinThompson	Respond to of 13660

Fickle market. Hard to imagine such an intraday surge based only on TYC conf call. Are they really such a mover? Thought the problem was with the accounting theme, not just on a single company's alignment with accounting problems. If TYC is now not an accounting issue, does the theme go away? I don't think so. Will look to sell more (of something or other) if we rally higher. From Briefing.com: Dow -1, Nasdaq -13, S&P -3.16 : [BRIEFING.COM] The overall tone of the market remains negative but the averages have been able to push higher over the last half hour. The bias has improved as the Tyco (TYC +18%) press conference has gotten underway. The company says it has approximately. $6 bln in cash now and notes it would be in a position where it will have $1.5 bln in cash 12 months from now after all debt repayments, and assuming no sale of the Plastics business, and no proceeds from IPOs. Also stressed that it does not have a liquidity crisis, that it does not have any debt contingent on its stock price, and that it doesn't need to access the financial markets to operate its business. Market internals have improved slightly but remain bearish. SOX +0.1%... DOT -2%... XOI +1%... BTK -1.6%...