General Commentary
Asian markets up big early... If they can hold on to, or build on, gains, will set a positive tone for today's open.
KLA-Tencor (KLAC), Parametric (PMTC) and CompUSA (CPU) issued earnings warnings after Wednesday's
close... For more details see the industry briefs below and/or check out our Story Stocks page.
Don't quote Graham and Dodd and forget Newton's laws of physics, Internet stocks only move in one direction - up!.. Bolstered by
news that Earthlink (ELNK) announced a 2-for-1 split (the third such announcement in the past several days) and by speculation
that Netscape (NSCP) will announce a deal with a major media partner, the Internet group continued its amazing advance... In
the past month alone Amazon (AMZN), Yahoo! (YHOO), Excite (XCIT), Lycos (LCOS), America Online (AOL),
RealNetworks (RNWK), CMG Information (CMGI) and Earthlink (ELNK) have posted high double-digit and in some
cases triple-digit gains... A host of others have also recorded eye-popping gains.
Missed the rally so far?.. Itching to jump in and take part in this incredible ride?.. Before you do take a look at the charts of K-Tel
(KTEL), 7th Level (SEVL), Onsale (ONSL), Cybershop (CYSP), N2K (NTKI) and Market Guide (MARG)... Had
you bought these stocks at the height of their popularity about two months ago, you would be holding a basket of losers as each
stock is well of its respective high... As difficult as it is to believe at a time when Internet stocks are gaining 10+ points a day, the
truth of the matter is that these stocks do go down on occasion, and in some cases they fall fast and hard.
Warnings aside, which Internet stocks do we like for the long haul - AOL, Yahoo!, RealNetworks, Preview Travel
(PTVL), Open Market (OMKT), At Home (ATHM) and WorldCom (WCOM)... Honorable mentions include Excite,
Intuit (INTU), Onsale, Lycos and Netscape. |
