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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: SouthFloridaGuy who wrote (14037)10/1/1998 5:39:00 PM
From: Michael Collings  Read Replies (1) of 27307
 
Puff Daddy:

You asked me what my hurry was? Well I believe that the public is so trained that this stock does nothing but run up into its earnings reports that if I were a mutual fund or institutional trader, I would use that opportunity to sell into that run up. Furthermore, I doubt that many would be jumping in to short prior to earnings so I would have little company in my short.

Stocks rarely do what everyone thinks they will and just about everyone expects it to fly into the earnings report. I am quite sure that the public will not panic out of this stock before they get to hear about the 13 or 14 cent quarter. It's a perfect time for the institutions to unload. This market is in serious trouble and the next leg down is just about ready to start. I didn't think it would wait until YHOO announced earnings.

In hindsight I think the longs on this stock will question their own sanity of buying a stock at these prices because of a 13 cent quarter or because they think this company will maintain its current growth rate. I guess you can talk yourself into just about anything. But a year from now I can promise you that this stock along with all stocks will trade only on current fundamentals not some dreamed up future possibilities.

Prior to that we will see a Dow 5000 at the minimum and possibly lower. We will see the spread between corporates and treasuries widen a great deal more. And anyone that tells you that interest rates are dropping therefore stocks are good investments, obviously doesn't have a clue as to the ramifications that the current status of our stock and bond markets are in.
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