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To: Galirayo who wrote (6323)	2/20/1998 3:05:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 9262

PAA... biz.yahoo.com >>>It's Book Val is above 2.70. I somehow think a return to .44 is stretching it. I think the dip to 1.00 was an opportunity. biz.yahoo.com <<< ********************************************************************** Thanks Ray: From a valuation point of view, Book Value, Price/Sales, PAA is undervalued... I believe that's why it jumped off the bottom so quickly... But, the Default that is hanging over their heads is a cloud that may revisit the stock price... Then again, it may not... But, if it does, the .44 area looks like a good price for traders to consider buying on upticks from that point... The danger here is a default can lead to Bankruptcy... Bankruptcy can lead to creating a new class of stock that makes the original class of stock worthless... I speak from experience... It happened to me before... Jim