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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (49837)	4/10/2002 8:44:51 PM
From: Jane4IceCream	Read Replies (2) \| Respond to of 99280

I take the whole day off. Saw you post about 50 or so in a row last night/this morn and come back online late today and you are still posting!! Man, come out to Southern California and I'll get you outside for some fresh air and a chocolat sundae even. Now, If I may be serious for a moment. WHAT THE F HAPPENED TO WCOM TODAY?! I only made one trade early this morn and that was to dump my SONS and RSTN on the gaps up. Softechie...tell me. Jane

To: Softechie who wrote (49837)	4/10/2002 8:47:42 PM
From: ajtj99	Read Replies (2) \| Respond to of 99280

Techie, the Dow closed above 10,350 today, which is an important technical level. We may be seeing some strength in the NYA and Dow possibly due to some rotation out of tech. In the end, all the indices were quite oversold, and a bounce was to be expected anytime. By the way, you can avoid stuff like WCOM by checking out a balance sheet and a chart, techie. If you look at WCOM's balance sheet, you can see plain as day that they are insolvent. Don't count goodwill for what it's on the books for, unless you know it's been written down substantially to present market value in the past 6-months. Even then, goodwill is worthless in a Chapter 11 process. You have to look at tangible assets to get a rough idea of the value of the company, and you also have to know whether those assets are on the books at inflated values or have been written down to market value. WCOM does not pass the test in any of these situations. That "take a penney, give a penney" tray at the convenience store actually has more tangible net worth than the entire WCOM enterprise, IMO.