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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (18534)	1/24/2004 11:26:11 AM
From: Steve168	Read Replies (1) \| Respond to of 78961

My model turned bearish Thursday 1/22/2004. I am taking profits on some of the positions (UTSI, AMAT,...) and still holding large core long positions in ALVR, EONC. Shorted QQQ average around 38.25, JNPR at 29.8, and smaller short positions in F, FRE, AMR, AWE. In the past two days, my portfolio went from 100% long to about market neutral. My model predict a 5% correction (may change later) at least. Good luck to all!

To: Spekulatius who wrote (18534)	1/27/2004 12:09:30 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78961

Bought a starting position in ABC at 56$. I liked ABC CC much more than MCK. Similar valuation but ABC looks better than MCK. As I mentioned before the biggest concern is that MCK is initiating a price war causing margin erosion for all players. But concerns may be overblown. We basically look at a business that is going to have an expanding topline of about 13% for the next few years and if earnings move in lockstep, the stocks are undervalued. I also think that the increased threat of counterfeited drugs as well the increased complexity to distribute biological agents offers opportunity for higher margin business.