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Technology Stocks : America On-Line: will it survive ...?
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To: Pancho Villa who wrote (9766)5/5/1998 9:07:00 PM
From: PAL  Read Replies (2) of 13594
 
Instead of shorting AOL I prefer to short/buy puts Entremed (ENMD). The reasons are as follows:
1. AOL has numerous brokerage firms interested in their business of underswriting secondary offerings, acquisitions etc. No such thing for a small biotech company like ENMD
2. Press releases daily by AOL, ranging as the exclusive shoe lace cybershop to increase in chicken feed sold on the internet. On the other hand ENMD is just one time press release with the next one many months away.
3. Incredible surge in the price of ENMD, quadruple yesterday after reaching 85 for the day.
4. Hard to get ENMD shares to short. (Alternative: buy put)
5. Biotech company is still burning money in research stage.

I do feel that AOL is grossly overvalued. And so is ENMD, and common sense tells me that shorting ENMD carries less risk.

Good Luck

PAL
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