JTC another one from GringoDoc on the internet mania.
Points to ponder:
1) The Internet names (save for AOL) which have small floats relative to total
outstanding and large (relative) short positions. More money, less shares. AOL
is the only one to split. All the others still have large positions either
locked-up or just plain held inside. Remember when the AMZN shares were coming
off lock-up last November, plenty of 144 filings, short interest almost equal
to float? That was the last time the stock saw $50. Of all the
tulips, Amazon.com should be the one, but.... Is it Jeff Bezos? What is
holding it up?
2) Secondaries of inside shares in numerous names have occurred with
regularity and nary a blip on the chart. Is that a sign, the "tell"? SEEK,
USWB, BVSN have all done secondaries in the last 60 days and they are at all-
time highs.
3) The recent IPO's (VRSN, DCLK, ONSL, RNWK, SPLN, EXDS, ISSX and so on) have
been exceptionally strong after issue.
4) Mania within a mania?
5) The pimples are e-comm and e-comm wannabes - stock manipulation scandal at
IBUY - retail problems with MALL, EGGS spurts but doesn't follow-thru.
6) No consolidations, yet. Alliances, yes - MCIC/YHOO, FON/ELNK, AOL/XCIT,
RMII/PSIX, SPLN/CBS, MSFT, INTC and AOL becoming venture capital firms.
7) In the wings - watch for pending IPO's from Verio, CyberInvest, eBay,
NetObjects, Juniper Communications, Vignette and Geo Cities - all backed by
powerhouses.
8) Is this not relatively "new" money pouring into these names? And, if the
market trend were to turn, would not these names be among the first to be let
go? Sell YHOO before GE, sell MSPG before KO, sell ELNK before IBM, sell AMZN
before MCD?
9) The higher, the faster - the lower the faster? Last-in, first-out?
10) "Pounding the table" (don't you get tired of that, Maria?)
Pancho |
