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Strategies & Market Trends : InvestRight - Short Term Trading St
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To: Jeffrey L. Henken who wrote (612)12/2/1998 4:22:00 PM
From: mike mulhearn  Read Replies (1) of 939
 
Here is my post from last night on another thread. This should explain the way I feel.

To: Terry T. (1945 )
From: mike mulhearn Tuesday, Dec 1 1998 10:46PM ET
Reply # of 1950

Doesn't make sense. You tell me what makes sense. The I-net maniacs running these BB internet stocks to the moon. The BB companies that show no earnings. Then when they think the run has reached its peak, they move on to another and repeat their course of action. All in search of the next EBAY or Yahoo. Then lo and behold in their search they stumble across a company like ECHO. A company that is fundamentally sound. Earnings and great growth potential. What do they do? They buy in a hurry, trying to be the first one in before the run. But wait, not everyone has stumbled onto to ECHO or TokyoMex hasn't called a strike on the stock. What happens then? It runs up a little, but not fast enough for their liking so they all bail (late comers at a loss) and proceed to trash the stock because it didn't give them instant gratification. They do absolutely no DD on the company. All they know is, it's a company that has something to do with the interent and its going to run to the moon. A few though do the DD and say wait a minute, what little gem have I found here. They stop the chase and decide to become longterm investors in ECHO. I suspect if and when we get a positive news release or two on PLRP and the price starts to move up, people will take notice and say what have we here. I better look into it a little further. When the I-net maniacs stop the chase and the I-net companies stock comes crashing down, then they will look for a solid company with great growth potential such as ECHO and hopefully PLRP. Nothing makes sense in the market right now.
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