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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: bob glass who wrote (6158)	5/14/1998 4:09:00 PM
From: silicon warrior	Respond to of 12468

i agree, and still want to post about how prepostyerous her analysis is. She begins with the premise that the market may be misvaluing wcii. To find outm she looks to the auction of LMDS, which was obviously rigged--as in, unusual, not illegal. But, that market is itself imperfect, and the players demand greater returns for their greater risk, therefore they bid less. She then imputes a time to market factor by looking at market prices of PCS players. But, that market is no more perfect than wcii equity market. Another conclusion could have been that the wcii market value was fine, and PCS was off. This is all so specious--never heard of such "analysis". We all know wcii is a lot more than it's licenses--it's a potnetial income stream. She assiduously avoids traditional fundamental analysis--DCF; or, for that matter, comps. If you look at TGNT, you conclude wcii is grossly undervalued. Period.

To: bob glass who wrote (6158)	5/14/1998 4:15:00 PM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

Hi Bob, Thanks for your info. Regarding "IMHO, Ms. Stephanie and her friends are going to feel the squeeze hard and fast; look for covering in a hurry." Remember, whatever part of the 7M shorts (and probably more this month) are attributed to MS and their clients will never have to be covered (at least in the sense that they would have to buy on the open market), so we may not get the squeeze some would expect. Remember MS clients will handed shares at 20 5/8 that they will turn over to cover any shorts.