max90, did you read these quotes from the cbsmarketwatch.com site?
Are Net stocks a safe haven?
AOL gets access relief, Ariba hits new high
cbs.marketwatch.com
"The Internet is the safest place to have your money
during times of uncertainty," said Roy Howard, an
analyst at hedge fund Circle T Partners.
"This is the growth area," said Leonard Gross, at
hedge fund The Garnett Group. "Everything else is
falling but the Net stocks are still success stories."
Gross pointed to the Standard & Poor's 500 and
the Dow Jones Industrial Average, which are both
down about 4 percent since the start of August,
while the Goldman Sachs Internet Index has held
up.
On Friday, the18-stock Goldman Sachs Internet
Index rose 3.6 percent, finishing the week up 4
percent to 431.43. The Amex Internet Index added
2.7 percent to 314.26. Merrill Lynch's Internet
Holdrs, a basket of the 20 largest Internet stocks
by market capitalization, rose 5 percent to 106 3/4.
The security, which began trading Thursday, is
traded on the American Stock Exchange under the
ticker: (HHH: news, msgs).
"If you can get past the valuation hump," it's a good time to buy, said
Circle T's Howard. "We're entering a seasonally strong quarter and an
earthquake in Taiwan doesn't affect their business."
"It just makes Taiwan a more frequently searched word on Yahoo," he added.
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Amazing. Almost sounds as though he's even enthusiastic over the deaths of 1,700-2,100 people. |
