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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (72411)	10/15/1998 9:32:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

Is that Elliot's wave or Joe Schome's wave? John: I don't follow 'waves' or 'sticks' of any kind,I try to stick with the fundamentals of the company and other relevant extraneous matters and besides looking at all them waves makes me sea sick.HeeeeeeHaaaaw.

To: JRI who wrote (72411)	10/15/1998 9:47:00 PM
From: Jerry G.	Respond to of 176387

It looks like our cash cow is about to rise from the grave it has been in for the past 3 months.

To: JRI who wrote (72411)	10/15/1998 10:54:00 PM
From: kemble s. matter	Read Replies (1) \| Respond to of 176387

John, Hi!!! Hey buddy... <<Just trying to practice some Elliott Wave I learned once <g>....Anyone out there have any other ideas? Having fun...>> Sure....I got an idea...if what Dell has on the table now continues...we can rent the entire motel next July....buy 52" screen TV's to watch the market with CNBC....one in each room....this way Bachman can actually get some sleep.... Best, kemble

To: JRI who wrote (72411)	10/16/1998 7:59:00 AM
From: Mohan Marette	Respond to of 176387

<Hedge Funds> Sell most of portfolio.(not LTCM) John: Here is some information on hedge funds and their predicament.Looks like most of the selling has been done by these folks,which might be considered as bit of good news if one can call it that. ============================ (Source:Financial Times-London) ELLINGTON: Hedge fund sells most of portfolio By Richard Waters in New York The turmoil in the $150bn US market for securities backed by commercial mortgages claimed another victim as Ellington Management, the largest specialist hedge fund involved in the market, launched an emergency liquidation of a large part of its portfolio. However, the shock that has passed through the market could ultimately prove beneficial for the commercial real estate industry by shutting off the flood of capital that had threatened to chase prices to unrealistic levels, according to Wall Street analysts. In common with other corners of the US credit markets, the trading of commercial mortgage-backed securities, known as CMBs, has dried up in recent weeks. The illiquidity has driven prices of even the highest quality bonds down, leaving the yield on triple-A rated securities 1.25-1.3 percentage points higher than the yield on US Treasury bonds, compared with a spread of about 0.75-0.8 percentage point two months ago, said Gale Scott, head of real estate finance at Standard & Poor's. Ellington, a hedge fund believed to have had $1bn of capital before its partial liquidation began, said it had been forced to sell "a significant part" of its holdings due to margin calls by its banks last Friday. The fund was set up three years ago by Michael Vranos, a former star mortgage-backed trader from Kidder Peabody, after the investment bank was closed by its parent, General Electric, and parts of its operations sold to PaineWebber. It was unclear whether Ellington would have the capital to remain in business after the sale. Other casualties of the CMB market in the past three weeks have included Nomura, which was forced to inject $350m of fresh capital into its US arm as a result of losses in its holdings, and a batch of specialist real estate investment trusts, one of which filed for bankruptcy protection last week. The difficulties of such institutions have in effect cut off the supply of debt finance to US commercial real estate. That has brought an abrupt end to the wave of capital that had flooded into the sector, driving prices of office buildings and other property higher. Some $44bn of new CMBs were sold in the first half of this year, more than in the whole of 1997. "There is no more capital chasing existing real estate, or new development," said Ms Scott at S&P. "It's great for property market fundamentals. Investors and the rating agencies are overjoyed." Ellington said that, at the start of October, its open positions amounted to only about five times its capital base. That is far less than highly-leveraged funds like Long-Term Capital Management, though it still left the fund exposed to sharp movements in prices. The fund said it had been forced to sell due to margin calls from its banks after the CMB market took a battering last week. In a letter to its investors late on Monday, Ellington also said that prices of mortgage-backed derivatives, known as CMOs, had dropped "precipitously", though it did not disclose its holdings of these instruments. Ethan Penner, another former star of the CMB market, resigned from Nomura last month with a pay-off believed to be worth $28.5m. The Japanese securities firm said at the time that its wholly owned CMB subsidiary, Capital America - which Mr Penner ran - had lost $275m in the previous six months.