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Technology Stocks : Ask Jeeves,Inc-(Nasdaq-ASKJ)

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To: StockDung who wrote (773)5/17/2003 10:09:58 PM
From: rrufff  Read Replies (1) of 838
 
Hate to admit it but I shorted ASKJ at the end of the day @ 12.18 - 12.24. I see it hit 12.39 but I didn't see that trade. I still think the company has made a great turn around, management has really executed and I thank them for one of my best hits on the long side.

However, there have been insider sales, way too much "irrational exuberance" and sector excitement. I think ASKJ is in for a correction. My stops will be fairly tight though.

It is priced now "for perfection" and even a minor down grade will push it down IMO. I'm not one for computerized opinions but MSN rates it's a strong underperform. moneycentral.msn.com

Lazy analysts will pick that up and the trend will turn.

The GOOGLE connection is driving many to look at it as a pre IPO proxy. Unfortunately, the connection could turn out to be a multi edged sword. I don't think Google is going to limit itself to ASKJ but ASKJ may be limiting itself. Teoma seems like it has a great potential but it hasn't taken off yet.

Again, I'm not down on the company just the price. So here goes.

Go ahead Truth, make me some money.
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