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Technology Stocks : The Roaring Twenty 1998
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To: White Shoes who wrote (195)12/1/1998 1:28:00 PM
From: White Shoes   of 338
 
Also dumping all the CYCH in the portfolio, 300 shares at $16 1/4.

The bloom is off the rose in these internet plays, so I am dumping the speculative and relatively weak CYCH. Now there was some speculation that someone like AOL would want them. So selling now is a risk. However, it is better to lock in gains here.

The brouhaha about stiffer margin requirements on all these internet 'gambling' type stocks is important because it signals an impending liquidity crisis in these stocks that will snuff out much of the speculation. We've seen some of them drop precipitously. I believe that signals the end of this phase of the mania. It will awaken again sometime, and who knows when.

I would not be surprised if CYCH and SHRP were available for $5 again soon...nor will I be surprised if either eventually goes to $100. But not this week.
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