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The best agrument anyone could make for WCOM is the fact that is was
downgraded by 3 or 4 major brokerage analysts on Monday. You will probably
have to wait a while to see anything. One concern is the fact that their
debt keeps getting downgraded though. That makes borrowing more expensive
and they are in bigtime debt. Another concern is that Jerry Ebbers
reportedly owes the company ~$350 million for stock positions they are
loaning him margin.
I put some of my retirement money in Japan iShares EWJ last week. They are
"reforming" their bankng system and limiting bank deposit guarantees
sometime this month. For months I have been hearing that this act was going
to push them over the edge with runs on banks but I haven't heard any
negatives lately and the iShares put in a decided bounce in March. I firmly
believe the country is and will continue to sweep their accouting problems
under the rug but the risk/reward seems favorable at this level.
Kent
----- Original Message -----
From: "Judith Gledhill / Mark Oliver" <gledhill@xxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 23, 2002 6:03 PM
Subject: [RT] any view on a contrary wcom trade idea
Hi List members
am an occasional contributor for the last 3 years
What's the view on a contrary recovery trade WorldCom has been obliterated
buy the jun 5$ puts for 1,80 buy the stock at 3,45 apart from commissions
you have a stop loss
of just 25 cents on notional value. With daily trading ranges of a dollar
this seems a great counter play with a high chance of making a very decent
return. If the equity market return to higher part of its range or on any
semblance of a telecom recovery.
So folks be gentle with the critique I have over 10 years of sitting as a
prop trader mostly trading currencies and interest rate derivative trades
but this seems a pretty good trade idea?
Also I think that periphery equity markets in far east are holding
exceptionally well like Nordic far east value fund and ishares msci Japan
EwJ.Have a look I think that its quite clear in the case of Japan they are
putting a floor on the Nikkei and trying to engineer this back to the
14000-15000 level.
regards
Mark Oliver
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