To: mark bailey who wrote (1031 ) 10/8/1998 10:46:00 AM From: Paul Shread Read Replies (1) | Respond to
Another no-KY day in Blightpoint land. I don't know at what point values are going to be compelling enough to draw buyers back in, although I can't imagine we could go much lower (and how many times have I said that since mid-August?). Nonetheless, we need three things that might not come for another month or so (if ever on the last one): another Fed cut; a Brazilian stablilization package; and a real bank reform plan from the idiots in Tokyo (the latest version looks like more of the same old BS). This is a macro problem, not a CELL problem, although oddly, a weaker dollar should be helping both CELL and foreign markets, but CELL is also a small company (unlike KO, which also gets 70%+ of its revenues from overseas) and we are in a liquidity crisis... How low can we go? Well, we went public at about $1.50, so I'd expect strong buying there ;-). I'd say I was looking forward to Oct. 22, but I don't think earnings matter anymore; it's about the future, baby, and the market thinks the world is coming to an end. That said, today or tomorrow would be as good a day as any for the selling to stop -- earnings reports begin in earnest next week, and disaster is already built in. Have a nice day!
