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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: Tatnic who wrote (2835)	2/7/2002 6:28:57 PM
From: Terrapin	Read Replies (1) \| Respond to of 3770

CC, It pains me to think that you are correct but the step-wise pattern of the chart is fairly obvious. As you know, I am not a follower of charts or "price action" but I became concerned today when Tyco did not clear $30. Your call of high teens to low twenties appeared absurd when Tyco was at $40 but no longer. I was quite happy with the conference call but was unable to catch Kozlowski on CNBC. An interesting note about CNBC is that they are owned by GE which is in talks to buy CIT from Tyco. The conflict of interest is just enough to make me want to vomit every time they mention Tyco in a negative way but defend GE. Every time they mention that Tyco has lost such-n-such billions in market cap since the Enronitis I want to ask how many times that in market cap GE has lost. But enough of my whining. The "price action" has forced Tyco to cancel a merger and leave the bond market for more expensive (but more stable) bank credit lines which leads to lowered earnings (because of the higher cost-of-capital). If the hedge funds and CNBC commentators start harping on the lowered earnings without commenting on how it was all caused by downward "price action" which was, in turn, caused by scurrilous rumors and innuendo (some of which had to be retracted by TheStreet.Com and the WSJ), then we will see the next down step and fulfill the high teens part of your post. So far, the only act that can even be called inappropriate is the payment for Walsh's help on the merger with CIT. Can that really be worth driving Tyco so low? Terrapin, who hasn't traded out the shares he just bought yet.