Laser Vision Centers, Inc. (NASDAQ: LVCI) Message Board

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Biotech / Medical : Laser Vision Centers, Inc. (NASDAQ: LVCI)

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To: Mozingo who wrote (248)	8/4/1999 12:10:00 AM
From: Robert G. Harrell	of 413

Gary, A few additional thoughts in addition to the article I PM'd to you.I think the large hissing sound coming out of the internet stocks may have precipitated this decline. Because of the mechanical strategies I sent you and the Gilder Technology Report, I'm in a bunch of stocks that have sky rocketed. Almost all off them have huge P/E's and they are all coming back hard. I think these are the kinds of stocks that people who have chased the internet bubble might also chase. When the internet bubble started to collapse, many of these people probably started feeling margin pressure and would have needed to sell other stocks to cover. These would be likely candidates for sale since people who rode them up have very large gains and human nature is to take the gains from winners. I think the whole thing has been feeding on itself. In addition, if you believe the talking heads on CNBC, many funds are trimming back due to the uncertainty of what is going to happen to interest rates. High P/E stocks are always the first to go in these circumstances. If a fund wants to trim back a large position in a small float stock, the stock will suffer no matter what the fundamentals are. SFP is a good example. It has had a great run but is still cheap on a P/S basis. It is a classic James O'Shaughnessy stock but someone has decided to reduce their position by maybe 100,000 shares and the stock has plummeted. There is probably nothing wrong with the company, it is just a supply/demand thing going on. I've been stopped out of QCOM, NXLK, TERN, GBLX and, of course, LVCI this week. I'm real close on several others. They all have one thing in common -- they've had fantastic runs this year. Cheers. It will get better. Bob

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