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Strategies & Market Trends : Roger's 1998 Short Picks
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To: purecntry5 who wrote (695)1/14/1998 3:32:00 PM
From: Don Westermeyer  Read Replies (2) of 18691
 
Cowboy,

I use to follow ONSL. Rode most of the ride from $34 (covered at about $18 - went to $12) as they did a large secondary.

I'd be carefull about shorting this one since all the market as absorbed all the stock now. Fundementally this this is overvalued (compared with traditional retailers). However this is in the high-flying internet arena where P/S are in the high double digits and P/E are in the triple digits. ONSL has better earnings than many, say AMZN. If ONSL were priced like AMZN it would be $200/share! I think ONSL has four strong buys and a buy from Zacks. IMO this is not exactly the type of thing one wants to see in a short candidate.
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