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Technology Stocks : FreeMarkets Inc-(FMKT)
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To: Tom Hua who wrote (245)1/20/2000 9:36:00 PM
From: Steve Antonelli  Read Replies (1) of 414
 
Quite frankly Tom, what I know about Freemarkets is what was disclosed in the prospectus, which I read a few weeks before the IPO. I think they are a unique company in a hot sector, and I think they are ahead or at least near the lead in this B2B auction field.

I don't have any intention of laying out for you the things you would like to discuss. I will wait and see what they report for earnings and evaluate how they are growing. That will be my yardstick for determining how long I stay with this company.

If they have just added a ton of companies to their portfolio in the last few months as they claim in their last press release, right now that is good enough for me. Over time, I will get to know the company better. I was fortunate enough to get 50 shares at IPO for $48. So I'm sitting on close to a 400% gain. My strategy before I even got the shares was to hold for at least 5 months as a way of demonstrating to my broker that I will not flip IPO shares and therefore hopefully have an opportunity to get other IPO's down the road.

If I come to like how FMKT develops over time, I may hold for much longer than 5 months. I really don't know right now. That is the best you are going to get from me. Certainly, anything you say will have zero affect on my decisions.
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