Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (197602)	10/15/2002 3:22:00 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

TE: Have gone into IBM three times since this rally commenced. Cleared twice, both times for a small porfit. I am underwater on the first chunk, which is still in house. I jumped on it this a.m., and actually was close to a buck ahead, within an hour, but they rallied it nicely and I stopped out for lunch dough. I may do a bit more between now and the close, especially if they give it another nudge. We get IBM's numbers tomorrow. I expect that they will make the estimate on the bottom line (due to the accounting room provided by the recent acquisition) and that the revs will also be up (again, due to the acquisition) but I also think the guidance will not be sweet and that perhaps even a few N.Y.-based analysts will start to query them about such things as pension obligations, borrowing money (again) to buy back stock, the miserable service contract environment, lousy hardware sales, giveaway pricing for semi products, software sales in the tank, the continuing inplodion of their "maintenance" contracts, etc. Based on the deterioration in the company's financial situation, I still expect mid forties by the end of the year. By the way, isn't it absolutely amazing how the attitude of investors swings so quickly? A few days ago, the bears were euphoric and the bulls were contemplating suicide. Now, it is the bears who are worried that "the bottom is probably in". Not quite yet, IMHO. Mr. Market is just seducing the sheep back up the abbatoir steps for another bloodletting. Too many bears took it for granted that we were going to have a typical October massacre. It rarely works out the way the majority thinks it will. Best, Earlie