Mondoman, your observations of ZITL are hard to argue with.
I understand your reasons for shorting zitl, but you really cannot use objectivity and reason where none exists. People who are buying zitl are most likely buying it because the stock is going up by leaps and bounds and they are getting caught up in the frenzy, and not because they have done their due diligence and consider it a good value.
You are being rational in your reasons for shorting zitl, whereas the other 99% taking the other side are not. As you know, the stock market is not rational at tops and bottoms, and stocks will always go higher or lower than most people can possibly fathom.
It's hard for me to justify the valuations of many of these Y2k companies but I would not go short at this early stage of the game. To me, the rocket has just left the launching pad and still has a way to go before falling back to earth, and falling is eventually what will happen to these companies.
What will they do once the year 2000 or 2001 comes? To me, these companies offer a solution to a short term problem, and once this problem has passed, these companies will vanquish faster than a foe in a schwartzenegar movie.
I have to admit you have a lot of courage and guts, and I admire you for going against the crowd. I, to, try to be rational in the stock market, but sometimes you just have to know when to throw away all notion of common sense to earn a buck in this game.
It's a tough living fighting the tape, but if you're a little smart and a lot lucky, you can do quite well. Good Luck.
(by the way, I have no position in any of these so called Y2k companies) |
