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To: BWAC who wrote (39500)	5/10/2002 10:33:53 AM
From: E.J. Neitz Jr	Respond to of 53068

I would expect Worldcom to announce a take-back of MCIT. MCIT now at $2.50...so on a weekend board meeting(any weekend) approve it and buy-back at $3.75/shr a 50% premium to current price and save the qtr dividend. That would be a huge cash saving. Sprint is looking at exactly this. Just a guess, but do not think bankrupcy is in the picture, just radical financial manauver...just my guess. For me too many other better opportunities. Yes, the market is bizarre. However, the whole energy sector was bizarre in 1998-99, when energy stocks just sold off every day...lots of pain and lots of folks selling at the bottom. Just spoke to my broker and they indicated huge number of margin calls this am.

To: BWAC who wrote (39500)	5/10/2002 10:54:35 AM
From: E.J. Neitz Jr	Respond to of 53068

Looking at the % individual stock hits taken on any negative news seems to indicate we are in or close to a cyclical capitulation phase of the NASDAQ. I am starting to use this opportunity to scale-into stocks I know. However, I am no longer trading the market....in my opinion no need to. Some long term survivors have just been blown apart and offer outstanding value to anyone with cash, patience, and the desire to hold and face "dead money" for the short and intermediate term. And with interest rates as low as they are in alternative safe guaranteed investments, dead money is not such a bad thing if you achieve 100-300% or more return in a 2-3 year period.