Thom Calandra's StockWatch
Fast growers, top picks and how-tos
Plus: Dell earns analyst gold star; Israeli view; Dines alert
By Thom Calandra, CBS MarketWatch
Last Update: 3:05 PM ET Aug 18, 1999
Dines: Here's more talk of a late summer Internet stock rally like the one we discussed earlier this week. (See the column.) Newsletter editor Jim Dines says he is very bullish on Web stocks right now. "There's going to be short-covering," Dines told me Wednesday about short-sale investors who will need to buy back the shares they borrowed, thus contributing to greater gains for Web stocks. Dines says the higher-priced 'Net stocks -- the Yahoos of the world -- are moving fast. The smaller stocks, like one of his favorites, Mediconsult.com (MCNS: news, msgs), will rebound strongly later this summer, California-based Dines said. Or in the autumn. Mediconsult shares Wednesday rose 20 percent on the heels of a positive recommendation from investment house CS First Boston.
Dines, who edits The Dines Letter, sees a mass psychological inversion taking place. "Everyone is saying the Internet stocks are down. Not so. They're up for the past year. When you see everyone saying that, it's time for a change," he says. Dines just sent a flash bulletin to his readers, urging them to buy Internet stocks. As a group, Web stocks have risen more than 15 percent in the past five trading days. Dines sees more gains down the road. One of his small-stock favorites: Internet grocer Peapod (PPOD: news, msgs). |
