Who's Afraid of WorldCom?
from the all-the-other-telecoms dept
For all the problems and criminal prosecutions facing WorldCom these days, its competitors are suddenly realizing that WorldCom might be in pretty good shape. Sure, a few execs may get slapped on the wrist, but the company itself is likely to be streamlined, stripped of its debt, and put back into the market place where it can compete. Without the debt, it could be one tough competitor - and suddenly the other telecoms are realizing that WorldCom may be getting a free pass, of sorts. It gets to catch its breath for a little while in bankruptcy, while the heavy weight of (self-imposed) debt is stripped away. Then it gets to come back out fighting, while the rest of the industry has had to keep slugging it out all along.
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Meanwhile...
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Re: Meanwhile...
I bought 225 shares of WCOEQ at $.30 a share (it then dropped to $0.06 and I'd already have a 400% gain if I had taken advantage of it) and another 500 at $.137 a share. At 30 cents a share I break even with all the money I've put in this time around ($200 between BCICF and WCOEQ). I walked away with a 40% total gain last year between AWA that more than doubled and RHAT which lost me money. AWA doubled again this year but thowing a nickel in a slot that won you money is generally a bad idea so I went with a couple new stocks.
I treat the stock market like a slot machine. So far I'm ahead as a result. Sure, I'm not making or risking alot of money but I'm successfully playing the game.
WCOEQ has made it to $0.30 before. I'm sure it can do it again. If not, oh well. I'm not out much.
If you want your money back you're going to need to cut your loses and rethink your strategy; don't treat the stock market like a bank account. My strategy is to make 10% gains on my investments ($20 here and there adds up). Once I hit that mark and I'm happy, I sell. Greed is what lost me money on RHAT. Fortunatly AWA more than made up for it. WCOEQ looks to beable make up for BCICF this year.
Ben
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