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Biotech / Medical : Novacare (NOV) breaking out... -- Ignore unavailable to you. Want to Upgrade?

To: Todd D. Wiener who wrote (290)	6/4/1998 10:37:00 AM
From: Sigmund	Read Replies (1) \| Respond to of 420

Thanks for your as usual very thoughtful analysis. <<< Within the next 6 months, NOV expects to have plans for a capital refunding, such as replacing higher interest debt with convertible debt or preferred stock. NOV is looking at all options.<<< That should improve both earnings and lower the PE on the spot. This rumor might have been started by a short seller. It has all the markings of such to me.

To: Todd D. Wiener who wrote (290)	6/5/1998 4:33:00 PM
From: Bill Boy	Read Replies (1) \| Respond to of 420

Todd, Thanks for sharing the info yesterday re your phone call with NOV. I had added to my position late last week based on some technical considerations that have led me to believe that an a-b-c type correction of the 12/96 to 10/97 upmove was about complete in both time and points in the the 10'ish area. However, those earnings rumors have been discomforting to say the least and it was good to at least hear the company refuting them. This good move today on the best upside volume in some time may indicate some better times ahead if NOV delivers and the general market doesn't get in the way too much. Bill S.