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

To: willcan who wrote (79196)	6/14/2002 4:19:18 PM
From: Zeev Hed	Read Replies (4) \| Respond to of 99280

CAH did double the normal volume here today, and while there is a "warning" sign since it actually printed a new low, the bounce on heavy volume might be sufficient repair of that technical damage. I am leaving my SL (on close) at $58.50 and if you are looking at slowly building a position, CAH might not be a bad candidate in the $60/62 area. Don't expect firework, it is a defensive position. They acquired Syncor here for stock, so arbitrageurs will be selling CAH short while buying SCOR. Was that the morning blip down we saw? Maybe, but if the stock deteriorates further, (under $58.5) it could mean that the "support" for this outfit is waning. As a rule, you want to wait a little after a company acquires another company due to arbitrage activities that tend to put pressure on the acquiring company's stock. I am already in, so I'll wait to see if $58.5 is breached ot not. My total exposure is also quite low here at 16% equities 84% cash, another reason for me not to rush to the exit door. Zeev