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Technology Stocks : Internet Capital Group Inc. (ICGE)
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To: coachbobknight who wrote (1105)1/12/2000 10:35:00 PM
From: saket chadda  Read Replies (2) of 4187
 
Coach,

Yes, it did not hold. At the same time, if you
think about it, Barrons article is no longer
valid. The stock has lost a good 40% from
its peak. The good thing about the stock
price is that none of the insiders would
want to sell at this price. Keep in mind
that SFE has a history of holding on to its
investments well after the IPO. Further most
of the high level officers are already rich
due to previous internet ventures. I still
don't see further downside to the stock. I think
130 should hold.

I did average down in the 135-138 region. If the
stocks does indeed go down more, I will
average down again. I don't see further weakness.

Greenspans speech and PPI numbers should be
positive for the market. IMHO the market has
discounted the neutral stand of the last fed
meeting. Market at this time has factored in
a 0.5 basis point rate hike. Going by the topic
of Greenspans talk (technology and economy...)
it is likely he says positive things about how
tech (read internet) has made the workplace more
productive thereby causing higher output, lower
un-employment and low inflation.

I have have both long and short positions on
different stocks on different times. Recently made
some on shorting CORL and JWEB. Shorting
ICGE has been good for you. I could not have
timed it as well. The risk off a squeeze is
too high with such a light float.

Good luck on your other investments...
(sorry cannot wish you luck on this one without
having a substantial loss myself)

SC
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