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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: James Young who wrote (1685)	12/24/1997 1:22:00 PM
From: Wayners	Read Replies (1) \| Respond to of 5650

I was bullish until I saw that PSIX could not break $9 and it was stuck in that $7.50 to $9.00 channel. Great stock to flip at that time. The things that totally changed my mind about PSIX were the IXC announcement and also PSIX not getting anywhere close to EBITDA positive. I sold all of my PSIX on the next bounce AFTER the IXC announcement. Got $9.125 and was a hair away from getting $9.75. PSIX was making absolutely no effort to cut its costs. Instead I kept reading about how they were buying this or that in order to improve their network, its capacity and all this stuff EVEN though they said that upgrades to the network in the future would only be customer driven. Their network is nowhere near to being capacity constrained. What they're doing is wasting money and hoping that they get bought out for alot more than they are worth. Dream on and all that crap they bought--ITS DEPRECIATING every day and IT IS REAL DEPRECIATION!!!! I thought PSIX would continue to double its revenue every year, which had a lot to do with me being bullish, but they didn't fulfill on their promises to cut costs--in fact their costs were growing faster than their revenue and I saw one too many earnings disappointments--not even hitting the street's negative number. They continue to show absolutely NO PROGRESS towards profitability. I didn't care that they didn't make money now but no positive progress means rapidly falling stockprice. And that IXC deal. I thought, Schrader must be an idiot if he thinks that shareholders will believe he could pull off a three bager in the PSIX stock price in a year WITHOUT ANY PROGRESS towards profitability. Now he needs a FIVE BAGGER without any positive earnings progress. Impossible task. IXC owns it and each shareholder's shares. Shrader will probably get a seat on the board of directors of IXC. I don't know what that guy is thinking. Look for insider selling/dumping and the issuance of a whole bunch of new shares. If I were Shrader, I'd be selling shares every chance I got.