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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (10598)	3/5/1999 8:31:00 AM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 56535

TJ: BKS, NAVR, Tanning Oil BKS -- I too think it's a great opportunity right now, with relatively little downside and considerable upside. I've been accumulating since it plunged into the 29s and finished taking my position yesterday when I saw institutional buying come in late in the day. Some buyer chased the ask to grab some big blocks late in the day: last two prints were market-on-close buys in volume. There are several anticipated catalysts in the near future: opening of music store on bks.com site, FTC decision on Ingram acquisition, BOOK IPO. BKS risk factors: FTC axes the Ingram deal; we don't really know what BKS has in mind for the IPO right now; BKS earnings on or about March 11, and BGP earnings early this month; rumors that AMZN will miss its top-line number should be a plus for BKS, but I suspect BKS would get caught in the downdraft, at least temporarily. NAVR -- I've made good money playing this stock over the past several months. Right now, I think it's got more downside as long-suffering traders filter out. The IPO isn't likely for at least a couple of months, so I'm looking to re-enter under 10. I'm hoping it may even hit the 8s when traders come to appreciate the massive dilution NAVR has seen recently: Yahoo says 13.5 million shares outstanding, but it really is about 24 million now. The float should also be much larger than 6.6 million. I think there's a good deal more money to be made leading up to the IPO, but I'd advise waiting for your entry point. I believe there's time to let NAVR come to you. NAVR risk factors: management flaky and unreliable; insider selling; uncertainty about whether NAVR will really pull off the NetRadio IPO; another poor earnings announcement likely before the IPO. Tanning Oil: I've still got snow on my back porch!