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Technology Stocks : GoTo.com, promising Internet search engine
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To: HungryMan who wrote (418)7/19/1999 2:39:00 PM
From: Mike Fredericks  Read Replies (2) of 977
 
Hungry-

Couple of things. 1) Down day in the market. 2) Goto has finished its first "big move." The daytraders have moved on and those who jump on every internet IPO have moved on. There are other plays to be made (the folks on the GOTO board on SI are real hip on "RAMP" right now. *shrug*.)

I'm a long-term believer in GOTO but sold my stock last week because I felt that it was going to stagnate for the near term. I think that the 14-point run late last week caused the stock to get ahead of itself. I wouldn't expect much the next week or so. Earnings are due out when, beginning of August? I expect that some folks will get back into the stock (myself included) around that time, and that's when you'll start to see more action.

If you're a trader, go find something else for a few days but keep watching here for any signs of life and don't be afraid to jump back in. If you're a long-term holder, then take a vacation from the GOTO boards for a week and come back next Monday or Tuesday instead of worrying about day-to-day and hour-to-hour fluctuations. Nothing that would happen between now and then would change your position anyway, so why spend the emotional energy worrying about it?

-Mike
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