Re: Down market winner

[PaulMmn <PaulMmn@xxxxxxxxxxxxx>]

>At 06:07 PM 10/28/97 +0000, you wrote:
>>IBM bought back $7 billion of its own stock
>> in the down market this morning.
>>
>>Good  Buy
>>
>>The market  went down another 180 points  below  7000 mark and  now is on
>>the positive  side in its return[ but not  all of the 500 point  lose has
>>yet been recovered]
>>+---
> Hold it-   now there are  at least 2 numbers here -
>Yesterday the IBM Board  authorized repurchase of $3 billion + [odd] of IBM
>stock
>
>and the NYSE  market continues up  now  at over 300 points in  recovery of
>yesterdays 500+  plunge!
>
> It is  still a good  buy




If I understand the numbers properly, the market dropped 550 points, 200
more the next morning, then went up 300.  That's -still- a net drop of
450...

--Paul E Musselman
PaulMmn@ix.netcom.com


+---
| This is the Midrange System Mailing List!
| To submit a new message, send your mail to "MIDRANGE-L@midrange.com".
| To unsubscribe from this list send email to MAJORDOMO@midrange.com
|    and specify 'unsubscribe MIDRANGE-L' in the body of your message.
| Questions should be directed to the list owner/operator: david@midrange.com
+---