Dear all,

In a moment of madness went long on MONI following Hammer on Friday on basis most beaten up stocks last to rally in extended bull run.

MONI has dropped from 1999/2000 high of 14.00 say or 1400p, FTSE Closed Friday 3952.60, reached high 6950.60 on 30th December 1999, Marconi Corporation starts 19th May 2003, presentations to analysts tomorrow 7th May 2003.

Approx 2003 low 1.13p, recent highs approx 2.50p

Hammer on Friday roughly 0.01p head ie very bullish 1.56p/1.55p with tail to 1.35p approx, needs to close above 1.50p/1.51p today IMHO to double hammer 1.55p/1.36p with high 1.58p, mid low 1.38p

On following logic I think MONI could go to 4.00p (3.98p) if break of 2.50p confirms

UKX C 02.05.2003 3952.60/6950.60 (UKX H 30.12.1999)x 1400p x 0.005 (0.50% post D4E)=3.98p



Views/opinions bull/bear please, I am long thinking could be biggest winner of May 2003 assuming the city are going to ramp the hell out of it when they own 99.50% of the company post D4E

All IMHO, NAG, DYOR etc, etc

Cheers

Ash

LONDON (AFX) - Senior executives of troubled telecom equipment maker Marconi
PLC are set to go on a major charm offensive with investors on May 7 ahead of
the planned listing of Marconi Corp shares on May 19.
Marconi expects the UK and US courts to approve its huge debt rescheduling
plan in about 12 days time, enabling Marconi shares to start trading on May 19.
The company will tell investors that Marconi Corp's balance sheet bears
little resemblance to the old Marconi PLC.
As of Dec 31, 2002 Marconi Corp had net debt of 184 mln, gross debt of 788
mln and cash of 602 mln stg. Marconi PLC had net debt of some 3 bln stg and
gross debt of 4 bln.
Senior executives will also set out the strategy, products and services of
Marconi Corp.
Marconi's rescue plan, needed to avoid insolvency, involves a 4 bln stg
debt-for-equity swap with creditors, which will cede them 99.5 pct of the
company.
Under the terms of the proposed scheme creditors will also receive 340 mln
stg in cash. And as well as shares in the new company, to be renamed Marconi
Corp, they will also get a pro-rata share-out of loan notes.
tf/jc

Interesting day with massive swings - thought there might be and dipped a little toe in and then out .... might have another go later


ains