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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Drew Williams who wrote (4484)	9/6/1998 1:28:00 AM
From: Jay Gatsby	Read Replies (1) \| Respond to of 10852

This message is to the thread. A few days ago I announced my purchase of additional shares of LOR. At the time I was still In a bull's frame of mind. Even though most of my stocks got waxed last week, and beaten over the prior three weeks. The tuesday rally of 288 looked quite good, but lack of follow through on wednesday, with many sellers selling into the rally's strength, gave me pause. After looking at the big picture I concluded that despite the continuing reasonably good fundamentals in USA, there will be a reduction in corporate profits in coming quarters. First call continues to change ( reduce ) its figures for estimated profit growth over the next quarters. The changes in overall income growth estimates have been changing rapidly. So...long story short: i sold 75% of my equities. I hung on to 4 stocks, one of which is LOR. And i am hedged with OEX put options, as i think the short term risks of further stock price declines is very high.IMHO. Next week looks dicey to me. I post this message as a courtesy to the thread, as my recent buy announcement might create the wrong impression, if not accompanied by this note.