UBID - an IPO spinoff of Creative Computers Message Board

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Technology Stocks : UBID - an IPO spinoff of Creative Computers

UBID 3.000

0.0%

Jan 21 4:00 PM EST

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To: SHGLaw who wrote (253)	12/23/1998 5:58:00 PM
From: Moneysmith	Read Replies (1) of 581

When will it end??Try this on for size... DOW JONES 90-DAY NEWS/RETRIEVAL . Int'l News & Research Story Date : 98/12/23 1 16:00 T =Fund Mgr's Online Contest -2: Draws More Than 130 Responses The situation has confounded Wall Street and driven away short sellers, for whom Web stocks have always been a popular target. "No one could have stayed short on these stocks for the last three months and had any equity left," said one hedge fund manager. "The short community has figured they can't get in front of this freight train." That doesn't mean others aren't going to try. Among the contestants, Kevin Podsiadlik predicted shares will fall on Jan. 4. He cited a number of factors, including the belief that fund managers are holding onto Web stocks as "window dressing for their end-of-the-year prospectus and will then dump their shares." James Gottesman agreed with the Jan. 4 prediction, explaining that "e-commerce sites are crazy" and people are holding the stocks for tax reasons to avoid realizing capital gains this year. "I bet it will start early in the morning," Gottesman wrote. "By the end of the week, Internet stocks will be back to reality." Meanwhile, "Jorj X. McKie" predicted the tumble will begin Feb. 1 amid a selloff caused by widespread credit card fraud due to "ineffective security measures" by online shopping sites. Footnote: see SI site "Tulipmania Blowoff Contest"

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