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

To: limtex who wrote (8034)	8/31/1998 8:16:00 PM
From: bob glass	Read Replies (1) \| Respond to of 12468

L... I agree. Jason, you didn't mention the fact that WinStar declined 3.5 early on in the day, with only 800,000 shares traded, when the DOW was still fluctuating between 110 and 170 down. How do you explain the 2 plus million shares trading after that, with no decline, while the DOW, and the "sacred cows" in the tech sector got demolished? Mr. Cogan, its not WCII, its the market. When the bloodletting is over, it seems to me that, based on its performance later in the day, WinStar will recover quite nicely. Oh, by the well Jason, unless you've shorted everything in sight, how did your portfolio do today? Even profitable companies got creamed. Regards, BG

To: limtex who wrote (8034)	8/31/1998 8:39:00 PM
From: Jason Cogan	Read Replies (2) \| Respond to of 12468

Limtex: I think all this market activity must be affecting your sanity. Please take a couple of deep breaths. <<Have you made similar posts on some of the other stocks whose price has dropped or is it just that you specialized in WCII and became so convinced that it's price would drop that your research just missed the biggest crash for seventy years and the economic and socail collapse of Russia?>> I have made similar posts and short sales on other stocks, but I don't think that's the point. In your desire to look for scapegoats, I think you are confusing causality. The current thinking on the thread seems to go something like this. "It's the market decline, not Winstar's fault. Without the Dow collapsing, Winstar would be back at $45." Winstar's decline is not an "either or event". In other words, Winstar declines both for unique Winstar reasons, as well as being related to the overall market. The overall market is re-evaluating risk, particularly in light of the Russia and Asia situations. Witness the Dow. At the same time, it is re-evaluating Winstar's risk profile, and determining that it was/is grossly out of whack with it's fundamentals. Witness that Winstar's decline preceeded the general market sell-off. Winstar fans can disupte this all you want. "Management wouldn't do this to us." "The analysts have a higher price target, so they must be right." But it is precisely in times of market corrections that investors re-examine their fundamental assumptions. And despite the thread's continued avoidance of the subject, the tremendous EBITDA losses and negative net worth is one of the things that the market is souring on. When everything is going up, it's easy to pitch your case for capital. But when market's turn, getting capital for a money losing enterprise is even harder than before. Maybe that's not fair, but it's the way markets work. At the same time, I'd like to deflect some of this continued hostility. Just because I forecasted Winstar's decline, does not mean that I even remotely had a hand in their slide. I am just one market participant. Bigger fish than me move the market, and usually it's just the ocean that matters. Regards, JC