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Technology Stocks : eBay - Superb Internet Business Model
EBAY 82.64-1.4%2:19 PM EST
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To: J. C. Dithers who wrote (5733)10/5/1999 11:24:00 PM
From: J. C. Dithers  Read Replies (1) of 7772
 
J.C. is changing his tune about a holiday e-commerce rally this year...

This market looks terminally ill. It appears that we will now slip and slide sideways until FOMC November meeting. Worse yet, I believe there will be a Y2K panic and that it will start earlier than most of us suspected. This has nothing whatsoever to do with computers crashing anywhere. What will cause it is the fear that other
people are afraid it will happen. This is causing investors who are sure it won't happen to be planning on temporarily exiting the market anyway, because they fear that other people do think it will happen and are planning on exiting. FDR might say, "The one thing that we damn well BETTER fear is fear itself."

I believe that the net result will be that while computers don't crash, the markets will.

The good news is that there will be fantastic buying opportunities before year's end. Once it has been realized that the whole Y2K thing was a cruel hoax or myth, stocks will recover in a bigger-then-ever early Spring rally. Maybe even starting in January. Everything is now happening in speeded up time.

I still say eBay will reach $300, but not until this whole scenario plays out.
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