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Internet Stock Review Online, Sunday 10/30/98.
Los Angeles 75...102F Blistering.
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Table Of Contents:
1. What Say We.
2. Report(s) on InterVu (ITVU).
3. Short Interest.
4. Disclaimer.
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What Say We.
An ugly Friday to end an ugly week, to end what will be an even uglier
quarter.
We may see window dressing on Monday.
To those who got in at the beginning of the year and saw great wealth come and
go in record time and fashion: Oh well, the sun will shine again.
To those who got in at the beginning of the year and saw great wealth and took
it: Do it again and really impress us.
To those who got in a few months ago and have taken a direct hit, meaning you
are probably down 30-60%: Don't man the lifeboats yet.
To those who have been watching from the sidelines we ask: If not now, when ?
To those who bought on margin: Buh-bye.
To those shortsellers who are now just getting even: Count your blessings.
We are at this juncture, wildly bullish on the Internet industry. In fact more
bullish then we originally were back in January.
To succeed in the years ahead, as we've said many times before you have to
spread your money around. Today's leader can literally be gone next year. Next
year's big winner may not even be trading today. And don't discount the
potential of start-ups. The fact remains that many of the biggest winners in
the stock market in the coming years will undeniably come from the Internet
industry.
Why so bullish ? Demographics. Nelson Media research last week said 79 million
Americans are now online. Internet Stock Review says this week, "and ain't
hardly any of them been shopping yet."
Remember the first money-market funds (we are assuming you had your own money
in the mid-seventies). If you were bold you had 10% of your money in mmf's and
the rest in traditional bank deposits. Remember that, as you became
comfortable
with the fact that your money wouldn't disappear, (even though you didn't have
a bank teller to hand your check to you) how you began to invest more and more
of that money into the money market fund. Isn't it a fact that today you have
less than 10% of your money in traditional banks deposits. It will be the same
thing with commerce over the Internet. Only faster. Today, very few of us have
bought anything over the Internet.
Many of the huge stock movements we've seen and certain billion dollar
valuations we've seen, have been built strictly on expectations. Our thesis is
that the real and sustained movements will come when the revenues do. Aside
from Amazon, we ain't seen much in revenues yet. We can however, assure you
that the revenues will be coming and that they will be coming Big Time.
This is
not the "bio-tech" bubble. The bubble hasn't burst. In fact, we haven't even
taken the gum out of the wrapper yet. As Frank Sinatra said, "The best is yet
to come," and yes it will be fine.
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InterVu (ITVU) report.
Someone absconded with our reports which had $35 and $54 price targets. We
should have new sets and report on our findings Monday.
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The Short Interest Table.
Amazon 7,393,153
Ameritrade 389,000
Ascend 23,471,717
At Home 2,269,350
Broadcast.com 719,177
Broadcom 903,973
CKS Group 405,449
CMG info 2,289,554
CDNow 614,782
Checkfree 589,186
C-Net 2,388,186
Concentric 404,485
Cyberian Outpost 237,884
Cybercash 1,595,967
Cyberguard 365,743
Cylink 650,604
Data Broadcasting 126,219
Doubleclick 1,492,300
E Trade 4,945,583
Earthlink 2,398,628
Egghead 2,008,174
Geocities 141,374
Guitar Center 691,998
Hollywood Entertainment 977,869
Inktomi 652,069
ISS group 809,389
Infoseek 3,664,237
InterVu 397,340
K-Tel 1,679,817
Mecklermedia 310,393
Mindspring 3,871,017
N2K 1,071,075
Navarre 1,685,462
Netscape 4,486,118
Netspeak 434,079
Network Solutions 496,864
Netgravity 656,192
Onsale 3,008,929
Open Market 2,904,816
Peapod 544,532
Preview Travel 1,353,631
PSI Net 4,374,675
Qwest 2,478,230
RealNetworks 1,103,930
Seventh Level 934,280
Sportsline 1,623,587
Spyglass 433,934
Think New Idea 2,323,324
US Web 2,617,139
Verisign 433,079
Vocaltec 799,419
Wavephore 1,846,899
Yahoo 8,607,032
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Disclaimer.
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are either doing business with every company on the list or we would like to.
So..as we said many times before--we are not impartial. We love everyone.
Do not forward this letter because it does not include the disclaimer which
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