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Gold/Mining/Energy : BPI, Big Picture Technologies

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To: Imran who wrote (209)	4/13/2000 8:31:00 PM
From: Jeff Chan	Read Replies (1) of 249

Re: $7.00 price range... If the posts on Stockhouse are to be believed then the sales from eMerchant are going well (and maybe even better than expected). With the recent news release, another distribution channel has been opened up. I think that the $7.00 price range is attainable, however, unless the market as a whole picks up, I suspect the multiples that were being assigned to all "new economy" stocks will shrink (or have shrunken). I don't think we'll see $7.00 in the short term. I think we can thank Motorola, as an example, for that. Between Greenspan's remarks about inflation, Clinton's remarks about the human genome project being in public domain and Motorola coming out with an earnings warning, market sentiment is very poor at this point. However, if you're a contrarian, this is exactly the time to buy. I was fortunate and didn't chase the stocks that I own. I'm still up over 50% over the year, but this has shrunk from the 200% gain that I had at the market top. That's why I said I'm going to some TA and be a little more ruthless with selling. I pity anyone who has been buying on margin or mortgaged the house for these "new economy" stocks. They are doing some serious wound-licking. IMO Jeff

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