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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (5839)	1/23/1999 7:42:00 AM
From: Wallace Rivers	Read Replies (1) \| Respond to of 78480

Anyone have any thoughts on JC Penney (JCP)? It is not what we look for here in the classic value sense, but it has been absolutely slaughtered - almost an inverse Yoohoo chart! Still one of the big full line retailers, and has recently purchased some drug stores. Showed some life yesterday in a down market. One of the questions at the top of the list is "is the dividend secure?"

To: James Clarke who wrote (5839)	1/23/1999 4:58:00 PM
From: jeffbas	Read Replies (2) \| Respond to of 78480

Jim, I recently traded NH bought at $10, as I thought a trade was all it was worth at this time. Do you have an opinion on where historically it has paid to buy these cyclical stocks -- when everyone knows results are going to get worse and they are down a ton, or when they are actually reporting the lousy numbers? If the latter, then I would say we should wait for the poor comparisons and START buying when they do not elicit any further down moves to speak of in the market on the bad news. By the way, NH (my favorite) has exposure to Brazil, whether it is disproportionately large I do not know -- but it may be a source of further downgrading of its expectations.