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Technology Stocks : Concentric Network Corporation (CNCX)
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To: Brian E who wrote (98)4/12/1998 9:47:00 AM
From: Gokhan Gezmisoglu   of 377
 
> I would hardly consider shorting a competitor to be a good hedging
> strategy! To me, that's just limiting your profit potential. I buy
> net stocks because I can bear the risk, not because they're safe
> investments. I use protective puts if I want to lock in a profit
> range (although that doesn't apply to this stock). My point is,
> what happens to your gain if both CNCX and MSPG go up?

I do not value stocks in a vacuum. I think every stock is overvalued
or undervalued compared to another stock. In this case I thought
CNCX was undervalued compared to ELNK and MSPG. So I went long CNCX
(~18) and short MSPG(~62). If the Internet sector tanks, I think
MSPG will fare worse than CNCX, if the sector rallies than CNCX
should be better off than MSPG.

I am just trying to protect myself against sector moves.

Do not misunderstand me, I am extremely bullish on CNCX but
I am not sure if it will be going anywhere until "35 next week",
"run CNCX run" people leave the stock. The reason is everyone
has their stops in place so when the stock tanks, it tanks
big. (actually my target is much higher than 35, given that MSPG
will stay at its current levels)

I hope I did not offend anyone. The above are JMHOs. I have been
wrong before.

regards,
Gokhan
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