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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (195)	5/8/1999 10:40:00 AM
From: Ken W	Read Replies (1) \| Respond to of 1316

Sergio, I would like to close the position on FOB for a small loss. I still like the co. long term, but feel that it is going to take a long time for the co. to get some attention from the street and the public. When FOB gets some IR and PR in place the stock will move dramaticly. I would also like to open a short position on PQT. I am short the stock. Here is why. May 6 PQT filed their DEF14A with the SEC. It may be viewed at stockdetective.com There is a good deal of dilution being added to the stock in that the co. issued 19K shares of convertible preferred to Pico and its subsid. to cancel out 6.7 million in debt. The convert ratio is un believable! The 19K shares is convertible to 19 million shares of common. There is already Series A and B convertible, that IMO has held the stock price down below 12. The co. pays its affiliates (data feed server) free un restricted stock. All of the preferred stock is un restricted too. PQT is expected to release earnings this next week and the price has actually moved down, except for the one day that they had a "news" release on the website that they were adding options strings to the data feed. Another red flag I see is the IPO "intent" of the .com of PCQuote and a name change of the present co. This would be basically giving away the co's only asset and attempting to live off of that new public co. I would really like to see the structure on how that one is going to work. The IPO has not been filed yet and even if it is there would be another 60 days or so prior to the actual offering. Not a good internet market to be IPOing in now. Balance sheet wise PQT looks very weak. No cash, no assets, no earnings....sales, yes. No bottom line. TA wise iqc.com iqc.com The tech. on PQT is looking weak also. Notice the weekly period chart Stoch. are turning down from an overbought condition. MOMO is flat as the daily chart indicates that the longer term MOMO is about to head south too. The overall trend on the Weekly chart is turned down with the big double top from 1996 glaring out at you. I would put the short term target on the stock to cover at high 6 or low 7. Ken W