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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Terry D who wrote (9211)	2/7/2002 10:30:14 AM
From: Rob S.	Read Replies (1) \| Respond to of 11568

No question, It's a reversal from yesterday. Based on reduced earnings expectations and clarifications about the financial condition and growth outlook of the company, WorldCom should trade at about 20 times earnings or $15-$16. What's more, they are in a strong position to benefit from the shake out of competition. While not as euphoric an outlook as many long term investors had come to expect, the case is in place for a much higher price from this depressed level. The release will calm fears, lead short sellers to cover, and bring in value investors and a return of institutional investors. While the market is still very nervous and may head down, WorldCom should buck the trend to at least 10 in the short term imo. We shall see about that but I doubt seriously that the stock will move lower before moving higher from the current rebound price of around 8. If we get a pull-back, it should be temporary and met with buying. I don't use candlestick analysis much but on the day chart there is plenty of hammers - sharp drop in price being met by forceful buying, ending each reading period toward the upper trading range. I think we head a bit higher by the close. I'd like to see it head to 8.50-8.75.