Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Mandinga who wrote (5243)	3/19/1998 7:11:00 AM
From: Mengistu ejigu	Read Replies (2) of 18691

Internet,internet,internet...way overbought I think we all can make money by shorting any internet stock at this extremly overpriced level. read the following comment from briefing about the group. the Internet stocks were the biggest winners with Lycos, Yahoo! and Amazon leading the way... Group is extremely overbought... Internet stocks are up more than 40% (on average) since the year began... Analyst who can't accurately predict, from one quarter to the next, the earnings growth of companies with an earnings history, now tell investors not to worry about the Internet industry's lack of earnings visibility because 2- to 3-years down the road these companies will be profit machines... It's the story that counts!... Consequently, stocks like Amazon trade at more than 15x sales and 8500x estimated FY99 earnings... The market's appetite for risk is a very unsettling development. Good luck, Ej

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