eBay - Superb Internet Business Model Message Board

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Technology Stocks : eBay - Superb Internet Business Model

EBAY 85.36

+1.1%

Dec 12 9:30 AM EST

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To: lebo who wrote (1577)	2/5/1999 12:24:00 AM
From: Howard Hoffman	of 7772

I agree with all of your reasons. However, I do not know how price fits into your thinking. MSFT has a defacto monopoly. It has made more millionaires than any other stock I can think of. I think it is selling for around 165 right now. If it were selling for 265 right now, would it be worth it? How about 365? Certainly, if momentum pushed MSFT to 365, one could conclude that one was a fool not to buy it at 265. The kind of thinking that you express, i.e., price does not matter, has gone on for a long time with the Internet sector. That can only go on for so long before things get ugly. I am not certain of it, but today may well have been the beginning of something very ugly. How many stocks have had an IPO at 18 and gone to 300 in a few months? If there are any others, what are they selling for a year later? 2 years later? NSCP was meteoric. I don't think it got to 300, nor did it increase at the rate of EBAY. NSCP killed many shorts. Then it had a vicious correction. If you had gotten onto the rollercoaster early enough, it was a thrilling and profitable ride. If you got on later, it was a sickening ride. I think you might be smart to unload your EBAY now and buy it back at or below 100. No guarantee that you will be able to buy it at that price again, but I believe that 100 is a lot more likely now than 400. Good luck.

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