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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Frank Wechsler who wrote (3323)9/15/1998 5:02:00 PM
From: MGV  Respond to of 11568
 
It is a bit surprising.

Buy the rumor sell the news wouldn't seem to be the explanation though clearly the approval has been discounted into the price from after DOJ approval.

I'll be honest with you. I used the opportunity to buy more given the opportunity to take some trading profits on others that rode up today. I'm not sure if I'll trade what I bought today even though this is anything but a buy and hold market.

If the market has some legs, I would trade if it reached 57 this month. Given the pent up marketing energy and the abundance of time they have had to formulate and reformulate a 100 day "post-approval" plan, I like it at 45 very much, thank you.



To: Frank Wechsler who wrote (3323)9/15/1998 5:20:00 PM
From: Anthony Wong  Read Replies (2) | Respond to of 11568
 
Frank, according to CNBC, the sell-off is related to MCIC being replaced by RJR Nabisco Holdings Corp. (RN) in the S&P 500 Index, effective at the close today. Since MCIC is not trading today (shares converted to WCOM). I guess the index funds are selling WCOM instead and buying RN.

I too think WCOM is a buy at the low 40's level.


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