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Gold/Mining/Energy : Magellan Aerospace Corp (MAL) New Listing -- Ignore unavailable to you. Want to Upgrade?

To: ted who wrote (463)	1/9/1999 9:58:00 PM
From: thomas gentry	Read Replies (2) \| Respond to of 633

Good observation Ted. Clearly, the market has not responded to MAL's pre-Christmas announcement of new sales to Airbus or this week's announcement of a major engine sale by Orenda in a fashion that I would have expected. The lack of reaction to the Airbus deal is perplexing, particularly in light of the Euro's warm reception last week. Companies with a substantial European exposure (such as Magellan) stand to benefit from the booming economy that adoption of a common currency is likely to invoke. Equally baffling was the lack of a substantial uptick in reaction to Orenda's Turkish engine deal announcement. At $70 million, this is a major deal for a company the size of MAL. Add to all this Friday's US employment numbers confirming that the US economy remains red hot, and I would have expect an easy pop to nine bucks for MAL. This week's 10-cent decline was entirely unexpected. My feeling is much the same as it was after Boeing's announcement a few weeks ago. Magellan again looks to be oversold at these levels, this time by at least 10%. There is an overwhelming preponderance of positive news in Magellan's favour that cannot (and will not) be ignored. If there was ever a time to invoke an accumulation program, now is the time. Thomas