SBET Online Sports! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : SBET Online Sports!

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bernard I. Gentile who wrote (12)	1/26/1997 8:55:00 AM
From: Paul Schmidt	of 37

Thanks, Bernard. February 15th is the exact date. Now that the y2k hype is almost dead I was thinking that this whole online gambling (OLG for short?) stuff could be next. Remember the $600 billion numbers floating around for y2k stocks? Obviously that is a load of crap but just the mention of it caused ZITL, VIAS, ACLY and many other y2k stocks to soar from penny stocks to outrageous valuations. Now here we are potentially heading for a possible bear market in February that will probably last about 2-3 months -- my opinion only of course but that is a no brainer given current conditions. During this time people are still going to want to buy stocks but they will be very selective so if one gets very lucky and picks the right one he/she could see a few stocks take off into orbit. Once the bear hits the y2k stocks will sink faster than a two foot putt. MSFT and INTC will hold up pretty well but all of the other lofty stocks especially those with PEs in the 100s are going to lose 25-40% of their value -- CSCC is just a peek at what is to come. People are going to take their money and run and I don't blame them, I know I will. I won't sell everything but I will sell a good chunk to pick up some good opportunities. CSCC is a great company and will recover someday but the problem is that I wouldn't want to pick up CSCC right away. It may drop into the 20s or even the teens for just float around $40 for several weeks. Instead investors will be looking at bargain basement stocks especially sectors that have been ignored (like biotech) or entirely new ones. Which brings us to ... How nice that SBET will be coming online around this time! Hey, $1 a share and a possible $550 billion market!!. Just imagine the hype that will be generated. Once the hype starts it takes a long time for it to stop. ZITL would probably be $120 right now if it hadn't been for the confirmation that Soros was not buying. It was rumor combined with multi-billion dollar numbers that someone made up that lifted ZITL from $5 to its high of $72. If this online gambling machine gets rolling look out. People will flock and think irrationally when they see $550 billion and I wouldn't be surprised if a 1 trillion figure somehow gets tossed in there. I don't know if any of this is really possible but I will be paying more attention as February 15th draws nearer.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next