|
imo i think that friday was the perfect day to sell because as the intrest rate fears increase in august as the economic reports suggest,investors will want to be safe than sorry and the selling will only get fueled by the y2k concers,,,the long bond is also very telling 6.13 is very high and the stocks mostly to get hurt are the high p/e companies,,,you have to keep in mind what is going on in this sector right now ,,,alot of ordinary people have become very rich investing in the nets (yhoo in particular) and will be cashing out going into the new millenium.the recent rise in precious metals is also very telling,,,,imo we may see the 100 area for yhoo short term as the other net stocks have all gravitated their,,,who knows maybe yhoo is different.. the recent sell off post earnings was rather drastic and the pre-e run was not that great,,one of my friends made a good point to me he was telling me that alot of people have options in these nets that are locked up until a particular date and the consensus is that a soon as they are allowed to sell they will at any price it is currently trading at that day because their stock was bought at 7$,,,,he was telling me of a lawyer who did work for yhoo in the early days and was paid in stock that is now worth millions who is going to sell as soon as he can ,,it makes you wonder how many other people out their are in the same situation,, |
