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IC
Update
May 1, 2002
Book
'em, Dano! Part III: Take 20% on EK and 6% on
XOM
April 24, 2002
Hold
JPM
April 17, 2002
EK
Doing OK
April 10, 2002
Beer
Deal of the Century
April 3, 2002
Book
'em, Dano: Take 22% on ABY and 3% on IP
March 27, 2002
31%
Gains
March 21, 2002
Sasol
Reports
March 13, 2002
Hold
Everything
March 6, 2002
SPP
Surge
February 27, 2002
Profiting
in a Market Slump
February 20, 2002
83%
on USOO
February 13, 2002
SPP
on the Rise
February 6, 2002
TMCS
Earnings
January 30, 2002
Hold
all Positions
January 23, 2002
USOO
Continues its Streak
January 9, 2002
Chip
Sales Rise
January 2, 2002
Retail
Sales Disappoint
December 26, 2001
Bluefly
up 20%
December 19, 2001
Priceline
up 40%
December 12, 2001
Bluefly
up 20%
December 5, 2001
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IC
Update
By
Christian DeHaemer
The recent selloff of IC ADR shares in New York
has little to do with fundamentals. It can be summed
up with the trite market platitude "sell the news."
The chart shows that the share price has come back and
filled the gap. There is plenty of support above US$5.
The Indian rupee has fallen to 49 to the U.S. dollar
from 47 in July of 2001. That’s as stable a currency
as you can find, even more so than the yen or the euro.
We are still long IC because it is, post merger, the
largest private bank in India. I am bullish on India.
That said, keep an eye on it and sell if it drops below
our entry price of US$5.35… no sense losing money.
Continue holding.
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MMM
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