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Technology Stocks : BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ????
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To: Nimbus who wrote ()12/5/1998 2:22:00 PM
From: Patrick Shen  Read Replies (1) of 1196
 
Comparing BAMM to BKS, BAMM is still way overvalued at the current price. BAMM, like BKS, is not an Internet company. At most it can be counted as 1/10th of an Internet Company. That's assuming that they can get 3% of their revenue from the Internet. (I believe a company can be counted as an Internet company only if at least 30% of the total revenue comes from Internet.) Which is a HUGE increase over the Internet revenue before the news release, which I believe to be less than 0.1% of their total revenue.

BAMM's true value is around $6. This does not mean the bottom is $6. The bottom should be between $4 and $8 depending on the shorting momentum. For me, I would not cover until the MMs start covering. And believe me you'll know because the volume would be over at least 10 million and there would be a sharp increase in stock price.

For now, Monday would be another shorting day when the traders come back from the weekend and start shorting again and MMs continue their shorting.

For all the people who bought Friday, whom are you buying the shares from? Ask on this board how many people sold on Friday, and you'll get very few of them. So when did all these shares come from? You are right, from MM shorting.

What I learned from my years of trading is NEVER work against MM, work with them, if you don't want to end up broke.
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