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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Kaliico who wrote (20955)12/30/1998 9:15:00 PM
From: Dave Gore  Read Replies (1) of 120523
 
That might not be bad advice if you are convinced that a real I-net carnage is coming soon. I am not sure I am thinking along those lines quite yet, but we will see. I sure wouldn't load up on the long side though and I am saving 70% of funds for a selloff just in case and avoided that sector now for the most part.

I am afraid that a lot of people are going to get hurt. I can see AMZN and EBAY and even the better names getting cut in half. AOL is one of the better ones, but if people put a reasonable valuation on that stock, it will go to 50 or less. While I don't think that is a likely possibility, remember AMZN was just below 80 a few weeks ago, and the I-net mania is being called the biggest BUBBLE in history. Way bigger than the BIOTECH miracle cure phase of the early 1990's, where everyone was buying into small biotech names who had a promising cure. Amazingly of the several hundred Biotech stocks around then, only 44 are still trading and 5 of those are below $1.00.

I hope people at least diversify and not mortgage the farm. Maybe buy some puts, just in case, to balance off a big long position. That way they protect themsleves.

Good luck all,
DAVE
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