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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (242)	10/7/1998 8:24:00 PM
From: Wayne Rumball	Read Replies (1) \| Respond to of 11130

I had the bad luck to manage to buy the thing just a few minutes before the halt. NYSE is unforgiving. At least Nasdaq will let bankrupt cos continue to trade. Anyway, now I know more about these sub prime lenders and their business than maybe I want to. SFC was heavily leveraged and in need of securitization. When it dried up, their business did. I posted a couple possible shorts on the secret squirrels thread, same business, same leverage. One though, that is beaten down due to the general climate, is SIR. Bought it and sold it for a few points a week or so ago, but look at it again today and appears to be waaaayyy undervalued. They are not heavily leveraged like the others. Using mostly their own cash for loans. Could be worth a shot, but I don't own it yet. Trying to decide. SFC put me a bit too far on the conservative side. Need to regain confidence with a few wins.