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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO
SYNT 40.990.0%Oct 10 5:00 PM EST
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To: Risky Business who wrote (870)2/23/1998 4:19:00 PM
From: wlheatmoon   of 2761
 
Jamesjay,

I don't know that there is ever any real justification for stock prices. Just look at AMZN, AOL, YHOO, etc. The number of stocks with ridiculous valuations are high. Has this one reached that level? I don't think so. I'm not smart enough to trade this one, so I'll just hold until I think the run is done. I don't think that has happened yet, but that's just my opinion.

The volume remains high for a float of 3 million shares. This stock has traded 4 million shares since 2/5 when the price jumped close to 17. It's been flying ever since due to good earnings, exposure, low float and now momentum. When is the nice ride going to end? Who the hell knows!! The volume was 700k shares today. Pretty darn good and another nice gain. If the volume persists, it will keep running. This sector (Y2K service) is hot. The last time I checked only 4% of the shares are institutionally owned. That may have changed with the recent price and volume move. I think the down side is minimal. I always seem to bail too early on winners and let the losers go too long. I'd like to change that stupid behavior and keep my winners and let them ride.

Good luck and good investing.

mike
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