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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001600.0%Jan 16 9:30 AM EST
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To: Glenn D. Rudolph who wrote (12797)12/30/1997 8:16:00 PM
From: craig crawford  Read Replies (1) of 45548
 
<< I have been wondering what the street sees in YHOO >>

The street sees only one thing. A short squeeze. Fund managers don't want to sell before the end of the year because they want to delay taxes, even if it's only for 1 quarter. Also, they all want YHOO on the books at the end of the year so it looks like they had a winner for the 4Q.

Fund managers can't seriously be buying this stock for the long haul at 65 times sales and 800 times estimated earnings.

Throw in some short covering to claim capital losses for '97, mo-mo players piling on (because they see the squeeze) and a year-end rally and you get a superb shorting opportunity.

I didn't short YHOO at 65 expecting to get instantaneous results. I expect it to run to 90 or even higher. Low expectations bring positive surprises. If YHOO jumps another 20 points that's when I will drop serious money into shorting that stock.

Sheesh, YHOO's market cap is now only 20% less than ASND's, but Ascend has 21 times more sales! Even in the worst quarter of ASND's history they made twice as much money per share as YHOO will earn all year! ASND earned more money per share last year than YHOO is expected to earn in 1999!
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