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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Rational who wrote (1562)	11/11/1997 8:12:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 2544

Sankar: According to Yahoo's CTYYS profile the book value was $214 MM, if you assume 100MM shares and $100 MM in loses you should have a book value of about $1/share. Of course, I do not know if they will need to take such a bath, this will assume they have ro write off completely 5% of their mortgage portofolio. Not impossible but a lot. In any event, youe observation is quite correct, the stock technically acts as if I was vey generous by suggesting about a month ago that they will drop under 2. It seems to me they are on their way to sub 1, followed by a reverse split, and possibly the junk heap. Stiil too dangerius for the Knight of the Hall of the Multiohorned Table. I do not see any golden hooks here at present. Stay away as if it was the plague. Zeev