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

To: c.hinton who wrote (10688)	6/20/2002 2:26:26 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 11568

When have I said any financing that has not yet closed was "assured"? Be specific. Now, of course you are right that a bondholder might recover some or even all of his investment in a BK, so your risk of loss is certainly lower. However, if the risk of BK is actually fairly low (or non-existent), then the many times greater potential reward in the equity seems worth a tad extra risk. What probability would you put on the stock standing still for the next year or two? I'd say about zilch. It'll either be at zero or a price several times the current one before your bonds mature. And I'd say the odds of zero are close to zilch, too. JMO.

To: c.hinton who wrote (10688)	6/20/2002 2:52:55 PM
From: John Curtis	Respond to of 11568

Chinton, et.al.:With all the financing you have talked about being assured where is the risk? Or is the financing dubious even for the short term? As someone who trades quite frequently, <VBG,> I've got to say the intraday doesn't seem to be indicating the market expects the financing to be dubious. Right now the market seems dubious about EVERYTHING! ;-) Uhh...and not just as it relates to WCOM. What I'm seeing intraday is a continuation of the tactics employed since WCOM fell from $6. That is...a whole lotta "stuff" going off inbetween the bid/ask spread. A spread, mind you, that's a penny. It amounts to this....zip across a TON of shares in the $.001-9 area then.....biff hit the bid for a couple hundred shares. Then zip across another ton of shares in the aforementioned area and afterwards....poof, hit the ask for a few hundred shares. Over and over and over again. Pssst..you can tell this is about to change when market forces stop the game and start focusing exclusively on the bid/ask and/or the lower/upper end of the spread. The direction of play to come is determined by which end gets hit. It's clear to me the big boys/girls are playing WCOM for pennies until such time as WCOM management parts the waters and provides some clarity. Until then it'll all be subject to roiling by general market angst. All this is from a trading perspective, of course. From a longer term point of view I'm hard pressed to see WCOM going BK. But I've got to admit that while the seas remain so stormy all across the board anything is possible. Bottom line? These are the times you can expect MAXIMUM big boy/girl mischief, just because so much uncertainty allows for it..... Now back to watching, and playing, the games.... John~