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Technology Stocks : Full Disclosure Trading
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To: Robert O who wrote (2540)11/6/2002 7:35:51 PM
From: Sam Citron  Read Replies (1) of 13403
 
I agree that EXPE is very richly valued. I considered shorting it, but settled on UPS instead, which I consider even more grossly overpriced, with a market cap that approximates that of the entire airline, air courier and trucking industries combined. I did so twice actually - profitably once and unprofitably once.

Problem for EXPE shorts is that profitable internet companies are a rare breed. Now that conventional wisdom has shunned internet companies because of so-called unsuccessful business models, true believers have flocked to the few that have managed to show some success. Valuation is nutty.

I would not short it here. I would rather wait for the previous high (around 85) or the beginning of January to do so.
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