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Technology Stocks : GoTo.com, promising Internet search engine

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To: HungryMan who wrote (444)7/22/1999 10:15:00 AM
From: Mike Fredericks   of 977
 
Naz was down 3+ % on Monday and another 1.5% today, we're in the midst of a correction. Who knows why. I am probably going to sell all my trading stocks today (sold 1/2 this morning, at a loss, but I figure it could get worse.) Maybe they're nervous about Greenspan, but he already told us last month that he wasn't going to change anything any time soon... So I don't know.

I'm short-term neutral on Goto but it's definitely a great long-term holding. I'd be more comfortable holding it than any other internet stock. If you're holding for the long term, quit worrying about where the stock closes one week or the next. It's not going to do you any good. If it goes down, you'll be unhappy, if it goes up, you'll be worried it's going to go down again. Set yourself a time frame to re-evaluate whether or not you're going to continue to hold it (like 6 months or so) and check the stock once a week until then.

If you're trying to trade it, then you may want to sell it and buy back in after the correction ends (be that this afternoon or next week or whenever). But you don't sound like a trader to me.

-Mike

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