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Technology Stocks : INFOSEEK (GO)

GO 10.27

+0.1%

Dec 26 9:30 AM EST

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To: David Rangel who wrote (3666)	4/15/1998 5:29:00 PM
From: William T. Katz	Read Replies (2) of 9343

Rumor of some takeover at $50 which sounds ludicrous. Why would anyone take over SEEK at 3x its price a week ago, and more than that multiple just short while ago when any rumored takeover talk would have begun. My view is that this is (1) pre-earnings run-up because people expect the same thing to happen to SEEK as YHOO after it reported good earnings, (2) short squeeze, (3) high volume is self-feeding frenzy. Infoseek is now over $1 billion market cap with no earnings and hardly the brand-name of a Yahoo! I expect some sort of initial bump-up tommorrow with a retraction like K-Tel, another big mover. I just got into short position at tail end of this run-up (avg position about 32.50) ... trying to decide whether to cover and the reshort or just stay with it. There is such a tremendous amount of hype and euphoria on SEEK threads that contrarian style dictates to stay with short. However big volume and momentum makes strong argument too.

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