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Technology Stocks : WAVX Anyone?
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To: Arthur Radley who wrote (8942)9/7/1999 11:31:00 AM
From: Jesse Livermore  Read Replies (2) of 11417
 
The question for the shorts is: Were they lucky or good?

They were good to recognize we were over extended without news and lucky the news was delayed.

My hope is that they recognize that WAVX is no ordinary internet play. They are smart enough to see that $65M (a quote from Jenn2) was invested over 10 years to develop a patented chip that securely stores money and meters digital content.

They say: So WAVX is a hardware company?

Then, they find out that it is and it isn't. WAVX wants to be a service company by giving away the chip to service the revenues that flow through the distribution of digital content from any source, from throw away CD/DVD to satellite broadcasts.

So they start wondering about this enigmatic internet company that isn't and hardware company that isn't.

They read about the business model that brings in strategic partners to share the revenues and they are smart enough to see the PC/OEM margins shrinking and the logic of the WAVX solution to declining revenues.

Next, they see the Sprague name and if they do some homework they find out this is no 20 year old geek but the guy that chaired National Semiconductor for 30 years.

Now, the shorts realize they have a tiger by the tail. They see AOL has invested and HP is an Embassy partner. The names Negroponte and Gilder keep popping up.

They read our boards and see the logic of AOL/Hughes with broadcasters like Viacom using our Intelicast division. They read the Pacific Growth Equities recommendation that contains AMD and a reiterated year end price of $32.

Finally, they see Microsoft and HP talking about apps for rent and it all clicks for them.

Do they want to try to take us down further? Sure they do, but they know the inherent risks grow daily.

Do they want to get trapped in when a gorilla announces?

I don't think so.

They are covering.

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